Indian Drugmaker Zydus Cadila Announces Quarterly Profit Rise

India-based pharmaceuticals producer Zydus Cadila has reported a 29% year-on-year increase in net profit for the third quarter ended December 2004, to INR395mn (US$9.03mn). The company claimed that net sales were also up 7.9% year-on-year at INR2.78bn (US$63.59mn).

During the period, the company signed a strategic agreement with Australia's Mayne Group, which envisaged a new joint venture active pharmaceutical ingredients facility in India, which would also produce injectable anti-cancer therapies. Zydus Cadila has also announced a contract manufacturing agreement with Italian drugmaker Zambon, which would also consider joint opportunities in APIs, fine chemicals and R&D.

The company also announced that its French unit, Zydus France, had launched 13 new generics during the period, bringing its total offering to 56 products. The subsidiary, formerly known as Al Pharma, is expected to enhance the company's access to key European generics markets. Meanwhile, in India the company launched a central nervous system therapy and a veterinary rabies vaccine in the quarter, as well as reporting strong sales on its Aten anti-hypertensive.