Zydus Cadila Q2 PAT rises by 30%

Ahmedabad based pharma major Zydus Cadila has posted a 30 per cent rise in net profit for the quarter ended September 30 to Rs 17.08 crore from Rs 13.10 crore in the corresponding quarter last fiscal mainly on the back of growth in global formulations business. Net sales during the quarter was up 21 per cent to Rs 110.63 crore.

During the quarter, the company’s revenues were driven by 35 per cent growth in the global formulations business, 19 per cent year-on-year (y-o-y) growth in domestic formulations and 41 per cent y-o-y growth in the US business. Formulations business in Brazil grew by 27 per cent. The wellness business posted a growth of 23 per cent as well. Also,during the quarter, Zydus Nycomed, the group’s joint venture company with Nycomed, commissioned its newly expanded API manufacturing facility at Navi Mumbai. The newly commissioned facility marks the transition of Zydus Nycomed from an intermediate manufacturer to a full-fledged API manufacturer.

The plant earlier provided Key Starting Materials (KSMs) for manufacturing Pantoprazole. Besides other APIs, the expanded facility will now manufacture the active ingredient of Pantoprazole for Nycomed, making it one of the largest end-to-end manufacturers of this API in India. Strengthening its regulatory pipeline, the company during the quarter, filed two DMFs with the US

FDA, taking the cumulative filings to 93 DMFs. It also filed two ANDAs and received two approvals, taking the cumulative number of filings to 115 and the total number of approvals to 58. Additionally, in the same period, the company filed eight new product dossiers for the EU market, taking the cumulative filings to 98.