Cadila bottomline rises 21%

BS 200 SCORECARD

Pharmaceutical company Cadila Healthcare posted a 14 per cent growth in net sales at Rs 289 crore for the first quarter ended June 30, 2004, compared with Rs 254 crore in the corresponding quarter last year. Net profit rose 21 per cent to Rs 32.8 crore (Rs 27.2 crore).

The bottomline has grown despite the fact that the company has doubled its spend on research and development to Rs 19.1 crore in the quarter ended June 30, 2004.

During the quarter, the company's formulations plant at Moraiya on the outskirts of Ahmedabad and API manufacturing facilities at Dabhasa, Vadodara, were approved by the USFDA.

This is likely to hasten the process of launching formulations generics and APIs in the US market. In the domestic market, Cadila launched 12 new products in its core segments "" central nervous system, cardio vascular system, anti inflammatory and anti infectives.