AstraZeneca moves up after reports of getting marketing nod for drug

AstraZeneca Pharma India gained 1.53% to Rs 929.50 at 14:45 IST on BSE after the report suggested that company received marketing authorisation from the Drug Controller General of India for Symbicort.

Meanwhile, the S&P BSE Sensex was up 28.66 points, or 0.09% to 31,326.19. The S&P BSE Small-Cap index was up 32.04 points, or 0.2% to 15,711.76.

On the BSE, 320 shares were traded in the counter so far, compared with average daily volumes of 4,993 shares in the past one quarter. The stock had hit a high of Rs 930 and a low of Rs 916.65 so far during the day. The stock had hit a 52-week high of Rs 1,146.95 on 24 August 2016. The stock had hit a 52-week low of Rs 909 on 27 February 2017.

The stock had underperformed the market over the past one month till 20 June 2017, falling 4.6% compared with 2.73% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 2.26% as against Sensex's 6.03% gains. The scrip had also underperformed the market in past one year, dropping 16.55% as against Sensex's 16.49% gains.

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

Symbicort is indicated for treatment of severe asthma and for patients with moderate to severe chronic obstructive pulmonary disease (COPD) with frequent symptoms and a history of exacerbations, report added.

On 15 June 2017, AstraZeneca Pharma India had said it received import and market permission in Form 45 (marketing authorization) from the Drug Controller General of India for fixed-dose combination (FDC) of Budesonide 320 g +Formoterol Fumarate Dihydrate 9 g inhalation powder.

Astrazeneca Pharma India reported net loss of Rs 2.88 crore in Q4 March 2017 as against net profit of Rs 0.56 crore in Q4 March 2016. Net sales declined 16.90% to Rs 110.95 crore in Q4 March 2017 over Q4 March 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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