Formulation exports drive Zydus Cadila's sales up 25% in Q1
This article was originally published in Scrip
Executive Summary
Zydus Cadilahas reported a 25% increase in total income to Rs7.14 billion ($168.9 million) for the first quarter ended June 30th, compared with the same period last year. This was led by strong growth in formulation exports. Net profits increased by 21% to Rs900 million and formulation exports increased by 60%. The US and French businesses reported sales growth of 36%. Zydus launched venlafaxine hydrochloride tablets in the US and received FDAapproval for pravastatin sodium tablets and benazepril tablets during the quarter. Tentative FDA approvals were given to escitalopram oxalate tablets, losartan potassium and hydrochlorothiazide tablets and anastrozole tablets. Zydus has filed 79 ANDAs and 59 drug master files so far. The company expanded its global presence and acquired Laboratorios Combix in Spain and a 70% stake in Simayla Pharmaceuticals of South Africa during the quarter.
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