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Zydus Cadila registers Total income from Operations of Rs. 3367 Cr, up 14% in Q2

Posted On: 2019-11-13 21:01:50

For the second quarter ended September 30, 2019, Zydus Cadila reported total income from operations of Rs. 3367 cr., up by 14% on a y-o-y basis. Earnings before Interest, Depreciation and Tax (EBIDTA) for the quarter was Rs. 626 cr, while the Net profit for the quarter stood at Rs. 107 cr. which includes an impairment charge of Rs. 268 cr. towards Levorphanol intangibles on account of entry of a new competitor. Adjusted for this, the Profit After Tax for the quarter stood at Rs. 319 cr.

The company's India business which comprises human formulations, consumer wellness and animal health business posted sales of Rs.1430 cr., up by 24% en a y-o-y basis. The company's business in the US posted sales of Rs. 1450 cr., up by 10% on a y-o-y basis. During the quarter, the company launched 7 new products in the US. The company filed 8 additional ANDAS with the USFDA and received 6 ANDA approvals, during the quarter. The company's business in the emerging markets of Asia, Africa and Latin America grew by 8%.

Making progress in its research programme, during the quarter, the company completed EVIDENCES IV Phase II clinical trials of Saroglitazar Magnesium in patients with Non Aieoholic Fatty Liver Disease (NAFLD) and an-Alcoholic Steatehepatitis (NASH) as the molecule achieved the primary efficacy eud-points. A statistically significant 44.39% reduction in ALT (alanine aminotransferase) was observed in patients treated with Saroglitazar Magnesium. The EVIDENCES [V NASH trial was a randomized, double-blind, placebo-controlled study that enrolled 106 patients with NAFLD, including NASH across 20 clinical sites in the United States of America.

A presentation on Saroglitazar in NAFLD was presented at AASLD 2019 held at Boston which highlighted the statistical significance of Saroglitazar when compared to the placebo in primary endpoint. This paper was selected as one of the best NAFLD/NASH debriefs presented at the AASLD Conference.

The Company also initiated patient enrolment for EVIDENCES VII Phase II clinical trials for evaluating the effect of Saroglitazar Magnesium in the treatment of NAFLD in women with polycystic ovary syndrome (PCOS) during the quarter. The patients are being recruited across multiple clinical sites in the US and Mexico.

Making progress with its vaccine research programme, the Company received the marketing authorization in India from the DCGl for Measles and Rubella vaccine during the quarter. The Phase II / III clinical trials for Pentavalent Vaccine were also completed and the Company received regulatory approval to initiate Phase I clinical trials for Recombinant Hepatitis B Vaccine. In a major breakthrough, the Company received the marketing authorization for TwinrabTM (RabiMabs) from the Drug Controller General oflndia. The novel biologic which is a first-of-its-kind next gen therapy, is indicated in combination with rabies vaccine for rabies post-exposure prophylaxis. The United States Food and Drug Administration (USFDA) has granted an orphan drug status to this candidate.

Shares of CADILA HEALTHCARE LTD. was last trading in BSE at Rs.224.65 as compared to the previous close of Rs. 230.25. The total number of shares traded during the day was 106808 in over 1762 trades.

The stock hit an intraday high of Rs. 232.6 and intraday low of 223.6. The net turnover during the day was Rs. 24256998.

Source: Equity Bulls

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