 "Q4, Q4 results")
Indian generic drugmaker Zydus Lifesciences reported fourth-quarter profit that was above expectations on Friday, driven by strong demand in its key U.S. and domestic markets.
Consolidated net profit nearly quadrupled to Rs 1,182 crore (nearly $142 million), beating analysts' average estimates of 10.45 billion rupees, as per LSEG data.
Total revenue from operations rose 10.4% to Rs 5,534 crore, ahead of analysts' estimates of Rs 5,347 crore, led by a 12% growth in its U.S. business and an 8% climb in domestic business.
Zydus Lifesciences competes with Cipla and Dr Reddy's for selling the copycat version of Bristol-Myers Squibb's popular cancer drug Revlimid in the United States.
India and the US make up almost 85% of Zydus Life's total revenue.
Indian generic drugmakers, which draw a significant share of revenue from the crucial US market, are recovering from the effects of eroding prices in the largest drug market in the world.
Last week, Cipla and Dr Reddy's also beat fourth-quarter profit estimates, driven by strong demand for their generic versions of Revlimid.
