Pharma major, Cadila Healthcare Limited reported almost 300 per cent jump in net profit on standalone basis for the third quarter ended December 2013. Company’s net profit for the quarter jumped from Rs 49 crore to Rs 195 crore for the quarter, showing a year-on-year growth of 297 per cent.
Company’s net income increased from Rs 724 crore in December 2012 quarter to Rs 897 crore for the quarter under review, up by 24 per cent.
On consolidated basis, company’s net profit jumped by 82 per cent from Rs 102 crore to Rs 186 crore for the current quarter. While consolidated net sales stood at Rs 1,838 crore up from Rs 1,561 crore.
“During the quarter, the company’s business in the US registered a growth of 61 per cent and Emerging Markets business grew by 30 per cent,” said a company statement.
The company filed 31 fresh ANDAs with the US Food and Drug Administration (USFDA) taking the cumulative ANDA filings for the period April-December 2013, to 49.
The company had received the US FDA approval for initiating Phase I clinical trials of ZYDPLA1 – a novel, next generation orally active, small molecule DPP-4 inhibitor to treat Type 2 Diabetes.
During the quarter, the company launched several new products in the international market. In Mexico, it launched 2 new products while in the European market, the company received the approval for 15 new product dossiers and launched 2 new products in France and 3 new products in Spain. Seven new products were launched in different Emerging Markets during the quarter.
For Biosimilars, the company initiated Phase III clinical trials for one of the mAbs and completed Phase I clinical trials for both the novel biologics, PEGEPO and Rabimabs.