Cadila Healthcare corrects on profit selling

Cadila Healthcare was down 3.12% to Rs 339.50, snapping its five-day gaining streak.

The stock surged 34% in the previous five trading sessions from its closing low of Rs 263.85 on 1 April 2020.

Zydus Worldwide DMCC, a wholly owned subsidiary of Cadila Healthcare, has received tentative approval from the US Food and Drug Administration (USFDA) to market Macitentan Tablets (US RLD: Opsumit Tablets), 10 mg.

The medication is indicated for the treatment of pulmonary arterial hypertension. The drug will be manufactured at CMO Umedica Laboratories, Vapi, Gujarat.

The group now has 287 approvals and has so far filed over 386 ANDAs since the commencement of the filing process in FY 2003-04.

Earlier this week, the company announced it has received tentative approval from the US drug regulator to market Empagliflozin tablets, in the strengths of 10 mg and 25 mg. The medication is used together with diet and exercise to improve blood sugar control in adults with Type 2 diabetes mellitus.

Cadila Healthcare is a pharmaceutical company. The group now has 287 approvals and has so far filed over 386 ANDAs since the commencement of the filing process in FY 2003-04.

On a consolidated basis, the drug maker's net profit tanked 26.54% to Rs 375.18 crore on a 0.52% rise in net sales to Rs 3,534.50 crore in Q3 December 2019 Q3 December 2018.

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