Zydus Cadila’s net profit up by 41% in Q3 FY21

New Delhi: For the third quarter ended December 31, 2020, Zydus Cadila reported consolidated revenues of Rs. 3796 crores up by 4% y-o-y and consolidated net sales of Rs. 3,754 crores up by 6% y-o-y.  Earnings before Interest, Depreciation and Tax (EBIDTA) was up by 16% to Rs. 807 crores. The Profit After Tax (PAT) was up by 41% to Rs. 527  crores as compared to the corresponding quarter of the previous year.

The Company’s business in India geography which comprises Human health formulations business, Consumer wellness business and Animal health business posted strong growth during the quarter as it grew by 20% on a y-o-y basis and registered revenues of Rs. 1,643 crore. Human health formulations business in India grew by 21%, Consumer wellness business grew by 16% and Animal health business grew by 17% on a y-o-y basis during the quarter.

US formulations business registered revenues of Rs. 1,603 crore during the quarter. The company filed 10 additional ANDAs with the USFDA taking the cumulative number of filings to 410 and received 9 new product approvals (including 4 tentative approvals) from the USFDA.

During the quarter, the company launched the oral anti-diabetic agent, Dapaglyn (Dapagliflozin) in India for patients suffering from Chronic Obstructive Pulmonary Disorder (COPD). The company launched Forglyn, India’s first pressurised metered dose inhaler with a combination of Long Acting Muscarinic Antagonist (LAMA) and long acting beta agonist (LABA).

Making brisk progress on the research front with Saroglitazar Mg, the company received the approval for the drug to be used in the treatment Non Alcoholic Fatty Liver Disease (NAFLD).  With this Saroglitazar Mg is now indicated for both NAFLD and Non-Alcoholic Steatohepatitis (NASH). During the quarter, the Company made a presentation of Saroglitazar in NAFLD at the American Association for the study of Liver Diseases (AASLD), Boston. Saroglitazar Mg which is also evaluated for the treatment of Primary Biliary Cholangitis (PBC), was given the ‘Fast Track Designation’ also received the Orphan Drug Designation from the USFDA. PBC is a liver disease caused due to progressive destruction of bile ducts in the liver which in turn leads to decline of bile flow, a condition called cholestasis.

The company also filed IND for the NLRP3 inflammasome inhibitor, ZYIL1 and upon receiving the approval started Phase 1 clinical trials during the quarter.

Continuing its fight against COVID-19, the company received approvals to start Phase III clinical trials of Pegylated Interferon Alpha-2b in India and the approval to start Phase III clinical trials of its vaccine ZyCoV-D. The trials for the vaccine are underway and will be tested across 60 locations in 30,000 healthy adult volunteers in India.