Zydus Cadila third-quarter revenues up 20%

Indian drugmaker Zydus Cadila posted total revenue of 14.01 billion rupees ($287.7 million) for the third fiscal quarter ended December 31, 2011, a rise of 20% from the corresponding period last year, on a consolidated basis. Net profit, excluding the impact of foreign exchange fluctuations loss, was up 7% to 1.77 billion rupees.

During the quarter, the group’s India formulations business grew by 18%. The group launched 15 new products, of which seven were the first in India. Strengthening its operations in the Indian pharma market, the group acquired the Mumbai based Biochem, one of India’s top 40 pharma companies The Pharma Letter December 21, 2011). Biochem is a strong player in the antibiotics, cardiovascular, anti-diabetic and oncological segments. Business of the JV companies posted a healthy growth of 58% during the quarter.

Riding high on the increased sales of its own products and that of the recently acquired Nesher, the group’s subsidiary in the USA posted a growth of 45% (TPL June 20, 2011). The group also posted growth of 44% in sales in Japan.