Zydus Cadila joins Indian billion dollar league

Joining the elite billionaire club of Indian pharmaceutical companies, Zydus Cadila, announced that it has ended the financial year 2010-11 on a high note, taking its revenues beyond the $1 billion mark and joining the ranks of India’s Cipla, Ranbaxy and Piramal, as well as the local unit of UK-headquartered GlaxoSmithKline.

The estimate is based on the company’s MIS as the financial results are yet to be audited. The journey to the billion had started in 2007 soon after the group had crossed its goal of posting a turnover of $400 million. Zydus Cadila is now the country’s fifth largest drugmaker.

Chairman and managing director Pankaj Patel said: “When we began our journey to the billion in 2006-07, we knew it would be a big leap forward. This has been the result of an all-round effort in terms of strengthening existing businesses, building new capabilities and venturing into new geographies. Our expansive vision continues as we move beyond the billion.”