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Levorphanol Write-Down Dents Zydus in Q2 But Saroglitazar Expectations Build

Moraiya Unit Reinspection Expected In June

 
• By Vibha Ravi

As returns from levorphanol fall on the back of increased competition, Zydus Cadila writes down investment by $37.5m causing Q2 profits to slump 74%. Post successful Phase II trials in the US for NASH and NAFLD indications, its hopes are now pinned on saroglitazar magnesium.

Cycling
Cadila hopes to cruise on products it has lined up for launch • Source: Shutterstock

Cadila Healthcare Ltd., the flagship company of the Zydus Cadila group, is counting on new launches in the US and continued strong growth in the India business to drive growth in the second half as sales of certain products like Levorphanol, an opioid painkiller, diminish on account of generic competition. It is also considering ‘strategic options’ for the Europe business, which has been slowing down.

The company plans to launch 15-16 products in the US during the second half, having already launched 15 in the first half this fiscal year. And, clinical trials of promising...

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