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Zydus Cadila has an excellent quarter in Q2, PAT up 33%

Pharma giant Zydus Cadila reported excellent numbers for the September quarter, led by rising US revenue that lifted its margins and profits.

For the second quarter ended September 30, 2017, Zydus Cadila reported Earnings before Interest, Depreciation and Tax (EBIDTA) of Rs. 857 crores, up by 68% y-o-y.

Net profit was up 33% to Rs. 503 crores

This was due to a sharp increase in revenue. Even as revenue increased by Rs 835 cr on year, total operating expenses including depreciation increased by only about Rs 550 cr, boosting margins.

The total income from operations rose 35% y-o-y to Rs. 3,234 crores.

The company’s business in the US posted sales of Rs. 1,644 crores, up by 66%.

The India formulations business posted sales of Rs. 895 crores, up by 15% excluding the excise duty.

During the quarter, the company launched 4 new products in the US including Mesalamine Delayed Release 1.2 g tablets (generic version of Lialda) with a 180 days exclusivity and received approval for 32 new products, including the generic version of Asacol HD (Mesalamine DR 800 mg tablets) and the generic version of Tamiflu suspension (Oseltamivir Powder for Oral Suspension 6 mg/ml).

The company filed 9 additional ANDAs with the USFDA, during the quarter.

The company launched 25 new products including line extensions in India during the quarter with 5 first in India launches. The company’s business in the emerging markets grew by 16%.

It also announced the initiation of a phase II trial investigating ZYAN1, an oral hypoxia-inducible factor prolyl hydroxylase inhibitor (HIFPHI), as a treatment for anemia associated with chronic kidney disease (CKD), during the quarter.

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