Cadila heads north after launching tablets in US

Cadila Healthcare was up 2.39% to Rs 537.50 at 10:54 IST on BSE after the company said it has commercially launched its Mesalamine Delayed Release Tablets USP, 1.2g in the US market.

The announcement was made before market hours today, 19 July 2017.

Meanwhile, the S&P BSE Sensex was up 146.36 points or 0.46% at 31,857.35.

On the BSE, 42,000 shares were traded on the counter so far as against the average daily volumes of 1.50 lakh shares in the past one quarter. The stock had hit a high of Rs 540.50 and a low of Rs 527.35 so far during the day. The stock had hit a record high of Rs 558 on 12 June 2017 and a 52-week low of Rs 329.95 on 26 December 2016.

The stock had underperformed the market over the past one month till 18 July 2017, sliding 0.09% compared with the Sensex's 2.11% rise. The stock had, however, outperformed the market over the past one quarter, advancing 18.59% as against the Sensex's 8.16% rise. The scrip had also outperformed the market over the past one year, surging 45.6% as against the Sensex's 14.29% rise.

The large-cap company has equity capital of Rs 102.37 crore. Face value per share is Rs 1.

Cadila was the first to file an Abbreviated New Drug Application (ANDA) for a generic version of Lialda and is currently the only generic available to patients in the US. The drug is indicated for the treatment of mild to moderate ulcerative colitis which affects approximately 7 lakh people within the US.

Cadila Healthcare's consolidated net profit fell 32.2% to Rs 385.50 crore on 6.5% rise in net sales to Rs 2417.50 crore in Q4 March 2017 over Q4 March 2016.

Cadila Healthcare is an innovative, global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies.

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