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| Zydus Cadila net up 18% to Rs 303 cr in FY09 |
| BS Reporter / Ahmedabad Apr 28, 2009, 13:58 IST |
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Ahmedabad-based pharma major, Zydus Cadila has registered a net profit of Rs 303 crore up by 18 per cent year-on-year. The company has posted a total income of Rs 2,948 crore, up by 26 per cent from Rs 2,333 crore in the corresponding period last year on a consolidated basis.
The topline growth was driven by 50 per cent growth in formulation exports, 34 per cent growth in API exports and 27 per cent growth in consumer business. The growth in formulations exports was buoyed by 55 per cent growth in sales in the US market, 32 per cent growth in Brazil market and 81 per cent growth in exports to the other emerging markets.
In 2008-09, the group signed a new drug discovery and development agreement with Eli Lilly for a collaborative research programme. As part of the agreement, the group would receive potential milestone payments of up to $300 million and royalties on sales upon the successful launch of any compounds derived from the research programme.
WIth the World Health Organization (WHO) approving Lyssavac N - the Purified Duck Embryo Rabies Vaccine (PDEV) manufactured by Zydus Cadila for purchase by various United Nations Agencies, the group became the first Indian pharma company and the second pharma company in the world, to receive such a prequalification for rabies vaccine.
The year also witnessed the group’s first acquisition in the research space with the acquisition of Etna Biotech of Italy. The group also entered into an agreement with the WHO to explore a possible collaboration in the development of a cocktail for the treatment of rabies, through the use of monoclonal antibodies (MAbs), the next-generation biologicals.
During the year, the group made a foray into Spain with the acquisition of Laboratorios Combix and also acquired majority stake of 70 per cent in Simayla Pharmaceuticals of South Africa, through its wholly owned subsidiary, Zydus Healthcare SA Pty Ltd. Entering the Rs 3,500 crore neutraceutical segment, the group set up a speciality division, Zydus Nutriva. The neutraceutical segment comprises haematinics, antioxidants, tonics, vitamins, multi vitamins, proteins, nutrients and calcium preparations. During the year, the group launched more than 25 new products and over 30 line extensions in the domestic market, of which 15 were for the first time in India.
Also, the consumer business of Cadila Healthcare was integrated into Carnation Nutra Analogue, and subsequently renamed as Zydus Wellness. In order to strengthen its regulatory pipeline, the company filed 19 ANDAs and 14 DMFs during the year taking the cumulative to 92 ANDA filings and 76 DMFs. It has so far received 43 ANDA approvals. The company filed 15 dossiers for new products in the European markets, taking the number cumulative filings for new products for European markets to 54.
The group also filed its sixth IND application with the DCGI, during the year for ZYT1 — a novel lipid lowering molecule, subsequently filed with the USFDA. The NME is currently in Phase 1 clinical trials. The Zydus Research Centre received full accreditation from AAALAC (Association for Assessment and Accreditation of Laboratory Animal Care) International, making it only the second company in India to receive this accreditation.
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