PDL now gets EU-GMP accreditation
July 12, 2010
ISO 14001 certification for PDL
August 6, 2010
PDL now gets EU-GMP accreditation
July 12, 2010
ISO 14001 certification for PDL
August 6, 2010

Parabolic Drugs Q1 profit rise by 36.29%

 

Parabolic Drugs Q1 profit rise by 36.29% (July 20th, 2010)

Parabolic Drugs Limited (PDL), a leading research based API manufacturer with stronghold in Antibiotic space and marking its presence in the Custom Synthesis and Contract manufacturing (CRAMS) segment has posted a 36.29% rise in net profit at Rs. 10.53 crore for the first quarter ended June 2010, as compared to Rs. 7.73 cr in the corresponding period of the previous year. The company’s Q1 gross Sales stood at Rs. 140.15 cr from Rs. 112.71 cr., up by 24.35% supported by launch of new Sterile Cephalosporin antibiotic API and through penetration in newer geographies. EBIDTA rose to Rs. 25.74 crore up by 52.13% as compared to Rs. 16.92 crore in the corresponding period in previous year. This was mainly due to increased share in sales of high value Cephalosporin APIs. Parabolic is extremely bullish about its estimations for FY2011.

The total income & EBIDTA margins are estimated to be Rs.705 crs & Rs. 128 crs correspondingly. The projected PAT for FY2011 is estimated to reach approximately Rs. 54 crores. Announcing the results, Mr. Vineet Gupta, Executive Director, Parabolic Drugs Ltd said “We are extremely happy with the results. We have increased our revenues mainly from newer geographies which have eventually contributed to better EBIDTA margins. Parabolic Drugs Limited is one of the fast growing API (Active Pharmaceutical Ingredients) and API intermediate manufacturing and marketing company in the SME segment, with increasing international presence and a strong R&D foundation, based at Chandigarh, India. Commissioned in 1998, PDL has two fully functional, state of the art manufacturing units, a EU - GMP certified Unit based in Derabassi (Punjab) and a manufacturing plant at Panchkula, (Haryana) approved by US FDA for supply to US respectively. Parabolic Drugs has received a Certificate of Suitability (“COS”) from the European Directorate for the Quality of Medicines (and Healthcare), France (“EDQM”) for its DMF filed for Cefuroxime Axetil Amorphous - granting permission to sell the product in the regulated markets of the European Union. Parabolic Drugs has also executed 8 custom synthesis contracts for global innovator and biotech companies since January 2010. It has signed long term sales contracts with Ranbaxy, Lindopharm Germany and Chemworth USA for the same. The Commercial production at phase I of the Chachrauli facility for manufacturing non-antibiotic products is due to start in September 2010. Company has a pipeline of 20 non-antibiotic products to be launched from this new facility.

Highlights for the quarter: -
Got EU-GMP approval for three of its Cephalosporin manufacturing plants at Derabassi, Punjab
Got COS (Certificate of Suitability) from EDQM for Cefuroxime Axetil Amorphous, granting permission to sell this API in EU, Registered sales in Korea and Algeria

 

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