Cadila Healthcare advances after arm gets USFDA nod for drug

Cadila Healthcare rose 2.57% to Rs 510.50 at 14:30 IST on BSE after the company announced that its subsidiary got US drug regulator's final approval for Dextroamphetamine Sulfate and Amphetamine Sulfate Tablets.

The announcement was made during market hours today, 2 November 2017.

Meanwhile, the S&P BSE Sensex was down 15.75 points, or 0.05% to 33,584.52.

On the BSE, 99,361 shares were traded in the counter so far, compared with average daily volumes of 1 lakh shares in the past one quarter. The stock had hit a high of Rs 515 and a low of Rs 498 so far during the day. The stock had hit a record high of Rs 558 on 12 June 2017. The stock had hit a 52-week low of Rs 329.95 on 26 December 2016.

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

Cadila Healthcare said that Nesher Pharmaceuticals, a subsidiary of Zydus Pharmaceuticals USA has received the final approval from the United States Food & Drug Administration (USFDA) to market Dextroamphetamine Sulfate and Amphetamine Sulfate Tablets in strengths of 5 mg, 7.5 mg, 10 mg, 12.5 mg, 15 mg, 20 mg and 30 mg.

The drug is used in the treatment of Attention Deficit Hyperactive Disorder (ADHD) and Narcolepsy and will be produced at the Nesher Pharmaceuticals' manufacturing facility located at St. Louis, MO, USA. The annual sales of drug is estimated at $416.5 million in US as per IMS Health data.

Cadila Healthcare's consolidated net profit fell 65.3% to Rs 138.40 crore on 3.6% fall in net sales to Rs 2135.70 crore in Q1 June 2017 over Q1 June 2016.

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

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