Zydus Cadila Q1 consolidated net profit up 30% to Rs 587 cr

Revenue from operations up 14% to Rs 3,917 crore from Rs 3,424 crore in Q1F21

Cadila Healthcare Limited (Zydus Cadila) has posted a 29 per cent rise in its consolidated net profit on a year-on-year (YoY) basis at Rs 587 crore for the first quarter ended June 30, 2021. The company had registered a net profit of Rs 454 crore in the said quarter last year.

The company's consolidated revenue from operations rose by 14 per cent to Rs 3,917 crore in Q1 of FY 2021-22 from Rs 3,424 crore in Q1 of FY 2020-21.

Zydus Cadila's India business which consists of human formulations and consumer wellness and contributed to 50 per cent of consolidated revenues during the quarter, grew 43 per cent YoY, posting sales of Rs 1,943 crore during the quarter. However, its US business, which forms 37 per cent of its consolidated revenues, dipped by 11 per cent to Rs 1,451 crore.

On the other hand, the company’s rest-of-the-world business grew by 17 per cent during the quarter on a YoY basis and posted sales of Rs 277 crore.

Zydus has applied to DCGI for Emergency Use Authorization (EUA) for ZyCoVD, the company's Plasmid DNA Vaccine for human use after conducting the vaccine trial.

During the quarter, Zydus launched the first Antibody Drug Conjugate (ADC) biosimilar drug Trastuzumab Emtansine under the brand name ‘Ujvira’ for treating both Early and Advanced HER2 positive Breast Cancer with a reduced treatment cost by almost 80 per cent for patients.

The quarter also saw Zydus initiate the clinical trials of its monoclonal antibodies cocktail that can neutralise Covid-19 infection. ZRC-3308, a cocktail of two SARS-CoV-2-neutralizing monoclonal antibodies (mAbs) can emerge as one of the main treatments for mild Covid-19. Zydus is the only Indian company to have developed a neutralizing monoclonal antibody based cocktail for the treatment of Covid-19.

Zydus and TLC, a specialty pharmaceutical company in Taiwan, also signed a license supply and commercialization agreement to commercialize a 50mg Amphotericin B Liposome Injection in India as part of its efforts towards fighting mucormycosis or black fungus.