Cadila Healthcare net profit up 29 percent to Rs 587 crore in Q1
Source : PTI
New Delhi: Drug firm Cadila Healthcare on Wednesday reported a 29.33 per cent rise in its consolidated net profit to Rs 587.2 crore for the quarter ended on June 30, 2021, mainly on account of robust sales in the Indian market.
The company had posted a net profit of Rs 454 crore for the corresponding period of the previous fiscal, Cadila Healthcare said in a regulatory filing.
Consolidated total revenue from operations stood at Rs 4,025.4 crore for the quarter under consideration against Rs 3,514.6 crore for the same period a year ago, it added.
The company's India business comprising human formulations and consumer wellness business contributed 50 per cent of consolidated revenues during the quarter. It witnessed a strong growth of 43 per cent on a y-o-y basis, posting sales of Rs 1,943 crore during the quarter, the filing said.
The company's business in the US posted sales of Rs 1,451 crore. The company's rest of the world business grew by 17 per cent during the quarter on a y-o-y basis and posted sales of Rs 277 crore, it added.
"Continuing with its fight against the pandemic, the company has also undertaken research in monoclonal antibodies cocktail to neutralise COVID infection. The company initiated the clinical trials of its monoclonal antibodies cocktail that can neutralise COVID-19 infection," Cadila Healthcare said.
ZRC-3308, a cocktail of two SARS-CoV-2-neutralizing monoclonal antibodies (mAbs) can emerge as one of the main treatments for mild COVID-19, it added.
"Zydus is the only Indian company to have developed a neutralizing monoclonal antibody based cocktail for the treatment of COVID-19," Cadila Healthcare said.
The company has also applied to Drugs Controller General of India (DCGI) for Emergency Use Authorization (EUA) for ZyCoVD, world's first plasmid DNA vaccine for human use after conducting the largest vaccine trial so far in India for COVID-19, it added.
Continuing with its efforts to provide easily accessible therapy to fight Black Fungus in India, Zydus and TLC, a specialty pharmaceutical company in Taiwan, signed a license supply and commercialisation agreement to commercialise AmphoTLC in India, the filing said.
"During the quarter, the company launched Trastuzumab Emtansine, the first antibody drug conjugate biosimilar and a highly effective drug for treating both early and advanced HER2 positive breast cancer under the brand name 'Ujvira'.
"The drug has significantly reduced the treatment cost by almost 80 per cent for patients," it added.
The company's lead molecule Saroglitazar Mg, received 'Orphan Drug Designation' from the European Medicines Agency (EMA) for the treatment of patients with Primary Biliary Cholangitis, Cadila Healthcare said.