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Cadila Healthcare up 7% on USFDA approval for antipsychotic drug

The stock was up 7% to Rs 496 on BSE in otherwise range-bound market.

SI Reporter  |  Mumbai 

Cadila's Moraiya plant near Ahmedabad
Cadila’s Moraiya plant near Ahmedabad

has moved higher by 7% to Rs 496 on BSE in intra-day trade after the drug maker announced that the Zydus Cadila received final approval from the US health regulator to market

Ziprasidone, an medication, is used to treat schizophrenia and the manic symptoms of bipolar disorder (manic depression).

“Zydus Cadila has received the final approval from the US Food and Drug Administration (USFDA) to market in strength of 20 mg, 40 mg, 60 mg and 80 mg,” said in a press release.

The drug will be manufactured at the group’s formulations manufacturing facility at the Pharma SEZ, Ahmedabad, it added.

The group now has more than 140 approvals and has so far filed over 300 ANDs since the commencement of the filing process in FY2003-04, the company said.

At 11:06 am; the stock was up 6% at Rs 491 on BSE, as compared to 0.01% decline in the S&P BSE Sensex. A combined 1.87 million shares changed hands on the counter on BSE and NSE so far.

First Published: Thu, August 24 2017. 11:09 IST