Cadila Healthcare Limited
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BSE Code:
532321
NSE Code:
CADILAHC
Business Profile
Business Profile
Cadila Healthcare (CADILAHC), the flagship company of the Zydus Cadila group was incorporated on May 15, 1995 and became public on July 17, 1996. CADILAC was promoted by Ramanbhai B. Patel. The group is engaged in pharmaceuticals (human formulations, veterinary formulations and bulk drugs), diagnostics, herbal products, skin care products and OTC products. Pankaj R. Patel is the chairman and managing director of the company.
The consumer business comprises Sugar Free, a low calorie tabletop sweetener; Everyuth, a range of skin care products; and Nutralite. Cadila Healthcare?s drugs are available as tablets, capsules, liquids, dry syrups, powders and granules, injections and ointments. The company has already launched 39 new products in the domestic market in 2007. CADILAHC has received approvals from Medicines Control Council of South Africa where the pharmaceutical market is estimated at USD 1 billion. In June 2007, it received approval from the United States Food and Drug Administration to market benzonatate tablets and naproxen tablets in multiple strengths.
TGL Enterprises of United States and the company set up a joint venture company, Zydus Noveltech, to develop novel drug delivery based products. On June 25, 2007 CADILAHC acquired 100% stake in Quimica e Farmaceutica Nikkho do Brasil (Nikkho), Brazil for around 26 million dollars. It also acquired Live Healthcare and more recently, Nippon Universal Pharmaceutical. CADILAHC has agreements with Zambon, Italy for manufacturing lyophilised vials and Mayne Pharma, Australia to set up integrated facilities for oncology injectables under a 50:50 JV.
Cadila Healthcare has overseas operations in USA, Europe, Japan, Brazil, South Africa, Sri Lanka, Kenya, Czechoslovakia, Romania, Mauritius, Myanmar, Cambodia and the Russian markets. Its registered office is at Ahmedabad, Gujarat.
Financials
The company reported a growth in standalone net profit for the quarter ended March 2009. During the quarter, the profit of the company rose 20.25% to Rs 425.70 million from Rs 354.00 million in the same quarter last year. Net sales for the quarter rose 6.80% to Rs 4306.10 million, while total income for the quarter rose 6.86% to Rs 4394 million, when compared with the prior year period. It posted earnings of Rs 3.12 a share during the quarter, registering 10.64% growth over previous year period.
Recent Developments
04-JUN-09
The company has filed investigational new drug (IND) application for `ZYD1`, a novel GLP - 1 agonist molecule with the Drugs Controller General of India `DCGI` The said drug is designed and developed at the company`s research centre.
02-APR-09
The company filed the IND application for ZYTI-a novel lipid lowering molecule with the USFDA.
31-MAR-09
The company received final approval from USFDA to market Topiramate tablets in different strengths of 25 mg., 50 mg., 100 mg., and 200 mg. The drug fall in the anti-epileptic segment. The sales of Topiramate tablets as per NDC Health was estimated at USD 2.6 billion in 2008.
30-MAR-09
The company signed a new drug discovery and development agreement with US based Eli Lilly and Company to increase productivity in drug discovery and development by synergizing the unique strengths of both companies.
04-MAR-09
The company`s research centre in Ahmedabad received full accreditation from Association for Assessment and Accreditation of Laboratory Animal Care (AAALAC) International, making it only the second company in India to receive this accreditation.
29-JAN-09
The company has received three product approvals from the USFDA in quick succession.
Future Plans
Cadila Healthcare plans to acquire the remaining 50% stake in its joint venture (JV) company Sarabhai Zydus Animal Health to make it a 100% subsidiary of the group. Cadila Healthcare entered into a share purchase agreement with Ambalal Sarabhai Enterprises for acquiring the remaining stake in the JV.
Cadila Healthcare is considering its overseas operations to further boost the company`s sales. The company is expecting 45-50 per cent growth in sales from its overseas subsidiaries for the next two to three years. Besides this, it is also eyeing at markets in Italy, Spain, Philippines, Russia, Taiwan and other Asia Pacific countries, for its overseas expansion.
Company expects sales of more than Rs 5000 million from its subsidiaries in the US and France by 2008-09. (As per December, 2007)