Cadila profit up 32.5% on strong growth in US
Cadila Healthcare Ltd, India’s third-largest pharmaceutical firm by market value, on Tuesday reported a 32.5% year-on-year rise in consolidated net profit for the September-quarter, driven by strong US growth after it launched a generic of Lialda, an inflammatory bowel disease drug, with a six-month marketing exclusivity period.
The Ahmedabad-based company posted a consolidated net profit of Rs503.3 crore in the September quarter, as against Rs379.9 crore in the same period a year earlier. Sales increased 32.2% on year to Rs3,154.9 crore during the quarter.
A Bloomberg poll of 22 analysts had estimated Cadila Healthcare’s consolidated net profit at Rs484.30 crore and sales at Rs2,824.50 crore for the quarter. Cadila’s US business recorded sales of Rs1,644 crore, up 66% from a year earlier. It launched four products in US during the quarter.