Zydus Cadila Q2 net up 52% at Rs 278 cr

A 21% rise in total operating income aided the numbers

Zydus Cadila reported a 52 per cent rise in net profit to Rs 278 crore for the second quarter of the 2014-15 fiscal riding on the back of a 21 per cent rise in total operating income.

The Ahmedabad-based pharma major posted a total operating income of Rs 2,108 crore, up by 21 per cent from Rs 1,747 crore in the corresponding quarter of the previous year on a consolidated basis.  Net Profit for the same period was up by 52 per cent from Rs 183 crore to Rs 278 crore.

During the quarter, the company’s business in the US posted sales of Rs 802 crore registering a growth of 68 per cent. The company received approval for six new products from the USFDA and four products were launched in the US market.

In the domestic formulations market, the company launched 16 new products, including line extensions, of which six products were the first to be launched in India.

In Mexico, the company launched two new products during the quarter, taking the cumulative launches to 12 and received the regulatory approval for 2 more dossiers, taking the cumulative number of approvals to 17.  

During the quarter, the company entered into a non-exclusive licensing agreement with Gilead Sciences, Inc. which will allow the generic manufacture of sofosbuvir.