AstraZeneca gains as company to launch diabetes drug

AstraZeneca Pharma India gained 2.25% to Rs 1,138.50 at 14:58 IST on BSE after the company said it will launch diabetes drug in India in Q4 of FY 2017-18.

The announcement was made after market hours yesterday, 14 December 2017.

Meanwhile, the S&P BSE Sensex was up 276.83 points, or 0.83% to 33,523.53. The S&P BSE Small-Cap index was up 247.49 points, or 1.38% to 18,170.94.

On the BSE, 1,617 shares were traded in the counter so far, compared with average daily volumes of 6,261 shares in the past one quarter. The stock had hit a high of Rs 1,163.45 and a low of Rs 1,131 so far during the day. The stock had hit a 52-week high of Rs 1,278 on 7 November 2017. The stock had hit a 52-week low of Rs 882.55 on 22 August 2017.

The stock lost 4.5% over the past one month till 14 December 2017, underperforming the Sensex's 0.93% rise. The scrip however, outperformed the market in past one quarter, gaining 15.73% as against Sensex's 3.12% rise. The scrip, however, underperformed the market in past one year, advancing 18.43% as against Sensex's 24.97% rise.

The small-cap company has equity capital of Rs 5 crore. Face value per share is Rs 2.

AstraZeneca Pharma India said that subject to the receipt of Import License from the Drugs Controller General of India, the FDC of Dapagliflozin + Metformin Hydrochloride film coated tablets (XIGDUO XR) is expected to be launched in India in Q4 of FY 2017-18.

XIGDUO XR is a product of AstraZeneca Group and has been approved in 61 countries to date including US, EU and Japan. XIGDUO XR is indicated as an adjunct to diet and exercise to improve glycemic control in adults with type 2 diabetes mellitus when treatment with both Dapaglifiozin and Metformin is appropriate.

Astrazeneca Pharma India's net profit rose 3322.5% to Rs 27.38 crore on 18.9% rise in net sales to Rs 164.26 crore in Q2 September 2017 over Q2 September 2016.

AstraZeneca Pharma India is a subsidiary of AstraZeneca Plc, UK. It covers manufacturing, sales and marketing activities of the company in India. The company has an innovative portfolio in crucial areas of healthcare including cardiovascular and & metabolic diseases, oncology and respiratory.

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