Cadila Healthcare's Q2 net up 33% to Rs 503 cr

Cadila Healthcare Limited, also known as Zydus Cadila, reported a net profit growth of 33 per cent at Rs 503 crore in second quarter ended September 30, 2017, up from roughly Rs 378 crore for the said period last year.

While total income from operations grew by 35 per cent year-on-year in Q2 to stand at Rs 3,234 crore, Cadila Healthcare's business in the US posted sales of Rs 1,644 crore, up by 66 per cent, the company stated in an official communique.

During the quarter, the company launched four new products in the US including Mesalamine Delayed Release 1.2 g tablets (generic version of Lialda ) with a 180 days exclusivity and received approval for 32 new products, including the generic version of Asacol HD (Mesalamine DR 800 mg tablets) and the generic version of Tamiflu suspension (Oseltamivir Powder for Oral Suspension 6 mg/ ml). The company filed nine additional ANDAs with the USFDA in the second quarter this fiscal.

As against US operations, Cadila Healthcare saw its India formulations business post sales of Rs 895 crore, up by 15 per cent excluding excise duty. The company launched 25 new products including line extensions in India during the quarter with five first in India launches. Further, Cadila Healthcare's business in the emerging markets grew by 16 per cent.

Meanwhile, furthering its innovation programme, the company announced initiation of a phase II trial investigating ZYAN1, an oral hypoxia-inducible factor prolyl hydroxylase inhibitor (HIF-PHI), as a treatment for anemia associated with chronic kidney disease (CKD), during the quarter.