Zydus Cadila posts 39% increase in net profit in Q2 ’09, bolstered by global sales

Zydus Cadila’s total income from operations has gone up by 28 % year-on-year to Rs. 9458 mn from Rs. 7409 mn, on a consolidated basis, for the second quarter ended September 30, 2009, the company reported in a press statement.

Zydus Cadila’s EBIDT shot up by 35 % y-y to Rs. 2057 mn from Rs. 1525 mn. Net profit was up by 39 % to Rs. 1319 mn from Rs. 949 mn last year.

Zydus Cadila’s revenues were buoyed by 46% growth in the global formulations business driven by 101% y-y growth in the US business, during the quarter.

Zydus Cadila’s wellness business also posted a growth of 37% and the API exports registered a robust growth of 44% in the same period.

Zydus Cadila’s formulations business in india posted a growth of 10% with the launch of 14 new products,including line extensions, of which three products – Nucoxia MR 8 in the pain management segment, Pazubid 300 in the anti-infectives segment and Venz OD in the CNS segment, were the first to be launched in India.

Zudus Cadila’s collaborative research programme with Karo Bio generated a series of novel dissociated non-steroidal glucocorticoid agonist lead compounds.

Among other key research milestones reached during the quarter, Zydus Cadila group commenced the Phase III clinical trials for ZYH1, the lead molecule for dyslipidemia, and also filed the US IND for ZYD1, a novel candidate in the class of antidiabetic agents.

During the quarter, Zydus cadila filed 3 DMFs with the USFDA, taking the cumulative filings to 82 DMFs, strengthening its regulatory pipeline.

Zydus Cadila also filed 2 ANDAs and received 2 approvals, taking the cumulative number of filings to 95 and the total number of approvals to 50.

Additionally, Zydus Cadila filed 4 new product dossiers for the EU market, taking the cumulative filings to 60, in the same period.

Zydus Cadila has so far received 32 approvals for the EU market.

Ahmedabad-based Zydus Cadila figures among the top five pharma companies in India. Zydus Cadila reported a total income of Rs. 908 crore for the first quarter ended June 30, 2009. Zydus Cadila has filed over drug master files (DMFs) for APIs  with USFDA and received approvals for about 50 abbrevitaed new drug applications (ANDA) for generic drugs in US.

Zydus has nine pharmaceutical production operations in India as well as an R&D centre. Zydus Cadila develops and manufactures a large range of pharmaceuticals as well as diagnostics, herbal products, skin care products and other OTC products.

Zydus Cadila’s R&D pipeline comprises 6 new molecules (NMEs) to treat conditions like dyslipidemia, anti-inflammatory and pain management, obesity and diabetes, which are in various stages of clinical trials.

Recently, it was reported that Pfizer is in talks with Zudus Cadila for possible stake acquisition along with several other Indian big as well as mid size drug companies.