Zydus Cadila's net profit up by 54% in fourth qtr

Indian drugmaker Zydus Cadila posted results for the fourth quarter ended March 31, 2013, showing that net profit for the period leapt 54% to 2.63 billion rupees ($47.3 million) and claiming these were “excellent” results.

During the quarter, the company registered gross sales of 15.99 billion rupees, up by 16% from the corresponding period last year on a consolidated basis. The board of directors declared an interim dividend of 7.50 rupees (150%) per equity share of 5 rupees each.

Strengthening its regulatory pipeline, the group filed 33 Abbreviated New Drug Applications (ANDAs) during the year taking the cumulative filings to 173. The group received 15 ANDA approvals during the year taking the total to 76 product approvals. The company filed 25 additional dossiers for new products in the European markets, taking the cumulative number of new product dossier filings to 161. The group filed 18 dossiers in Brazil taking the cumulative filings to 100. In Mexico, the group filed six new product dossiers, taking the cumulative filings to 20.