India’s Zydus Cadila posts 94% rise in 2nd-qtr net profit

For the second fiscal quarter ended September 30, 2013, Indian drugmaker Zydus Cadila’s net profit was up by 94% year-on-year to 1.83 billion rupees ($29.7 million). Total income from operations was up by 13% y-o-y to 17.53 billion rupees.

During the quarter, the company launched its Lipaglyn (saroglitazar), a novel drug to treat diabetic dyslipidemia. Besides Lipaglyn, the group launched 19 new products, including line extensions in India of which, four were first in India.

Globally, the company’s business in the USA was up by 29%, while Brazil grew by 28% and Europe by 24%. In Mexico, the company launched three new products during the quarter, taking the cumulative number of launches to four. During the quarter, the company made four filings with the Mexican regulatory authority COFEPRIS and received the approval for one more product, taking total approvals to six.