For the first quarter ended June 30, 2021, Zydus Cadila reported net profit of Rs. 587 crores, up by 29% on a y-o-y basis. Total income from operations for the quarter was Rs. 4025 crores, up 15% on a y-o-y basis. Earnings before Interest, Depreciation and Tax (EBIDTA) for the quarter was Rs. 933 crores up by 18% y-o-y. The EBIDTA margin for the quarter was 23.2%, an improvement of 140 basis points q-o-q.
The company’s India business which comprises human formulations and consumer wellness business which contributed to 50% of consolidated revenues during the quarter, witnessed a very strong growth of 43% on a y-o-y basis, posting sales of Rs.1943 crores during the quarter. The company’s business in the US posted sales of Rs. 1451 crores. The company’s rest of the world business grew by 17% during the quarter on a y-o-y basis and posted sales of Rs. 277 crores.
The company’s lead molecule Saroglitazar Mg, received ‘Orphan Drug Designation’ from the European Medicines Agency (EMA) for the treatment of patients with Primary Biliary Cholangitis (PBC). It provides a 10-year period of market exclusivity if the treatment is eventually approved. Earlier the USFDA had granted ‘Orphan Drug Designation’ and ‘Fast Track Designation’ to Saroglitazar Mg for PBC.
During the quarter, the company launched Trastuzumab Emtansine, the first Antibody Drug Conjugate (ADC) biosimilar and a highly effective drug for treating both Early and Advanced HER2 positive Breast Cancer under the brand name ‘Ujvira’. The drug has significantly reduced the treatment cost by almost 80% for patients.
Continuing with its fight against the pandemic, the company has also undertaken research in monoclonal antibodies cocktail to neutralise COVID infection. The company initiated the clinical trials of its monoclonal antibodies cocktail that can neutralise COVID-19 infection. ZRC-3308, a cocktail of two SARS-CoV-2-neutralizing monoclonal antibodies (mAbs) can emerge as one of the main treatments for mild COVID 19. Zydus is the only Indian company to have developed a neutralizing monoclonal antibody based cocktail for the treatment of COVID 19.
Continuing with its efforts to provide easily accessible therapy to fight Black Fungus or Mucormycosis in India, Zydus and TLC a specialty pharmaceutical company in Taiwan signed a license supply and commercialization agreement to commercialize AmphoTLC™ (Amphotericin B Liposome for Injection 50mg) in India.
The company has also applied to DCGI for Emergency Use Authorization (EUA) for ZyCoV-D, World’s first Plasmid DNA Vaccine for human use after conducting the largest vaccine trial so far in India for COVID-19.