Cadila Healthcare Q3 net up 25%

Ahmedabad-based pharma company Cadila Healthcare today reported a 25 per cent rise in third-quarter net profit at Rs162 crore compared to a year earlier. Net sales stood at Rs1,134.55 crore, up by 17.5 per cent over the previous corresponding quarter.

In a filing to the Bombay Stock Exchange, the company said income growth was mainly driven by a 20 per cent rise in formulations export and a 17 per cent increase in domestic formulations.

Its consumer wellness business was up by 21 per cent and US sales rose 33 per cent. During the quarter, it launched four products in the US market. While its formulation business grew by 33 per cent in Brazil, sales in Japan rose 22 per cent. It launched Rabeprazole and Glimeperide in Japan during the three months through December.

The company launched nine products in the domestic formulations market, including line extensions and ‘Osigard 100’.

Cadila filed three abbreviated new drug approvals in the US during the quarter, taking the total to 118 filings. It filed four dossiers for three new products in the European market, it added. It also received 15 new product approvals for the Spanish market.