Ahmedabad based pharma major Zydus Cadila posted a 60 per cent rise in net profit to Rs 199 crore in the first quarter of this fiscal ending June 30 on the back of a 51 per cent rise in sales in the US.
The company reported a 25 per cent rise in net sales to Rs 1137 crore during the quarter, up from Rs 908 crore in the corresponding quarter last year. Its US sales were up by 51 per cent to Rs 223 crore in Q1FY11. It launched Anasterazole Tablets, Tamsulosin Caps and Famotidine Suspension in the US market. Active pharmaceutical ingredients(API) registered a growth of 75 per cent.
The India formulations business posted a growth of 17 per cent with the launch of 30 new products, including line extensions, of which 8 were for the first time in India.
The group is setting up a new Vaccine Technology Centre to develop a broad spectrum of vaccines against viral, bacterial and protozoal infections. The vaccine is being marketed by Zydus Vaxxicare.
Further strengthening its regulatory pipeline, the group filed seven ANDAs, taking the cumulative number of US AN
Zydus Wellness Ltd (ZWL), the subsidiary of Zydus Cadila, posted 36 per cent growth in sales and 52 per cent growth in net profit on a year-on-year basis during the same quarter.
