Cadila Healthcare firms up after successful USFDA inspection

Cadila Healthcare rose 3.86% to Rs 426.90 at 9:34 IST on BSE after the company said its Moraiya facility successfully completed US drug regulator's inspection.

The announcement was made after market hours on Friday, 9 February 2018.

Meanwhile, the S&P BSE Sensex was up 248.86 points, or 0.73% to 34,254.62.

On the BSE, 29,000 shares were traded in the counter so far compared with average daily volumes of 1.10 lakh shares in the past two weeks. The stock had hit a high of Rs 433.05 and a low of Rs 421.65 so far during the day. The stock hit a record high of Rs 558 on 12 June 2017. The stock hit a 52-week low of Rs 356.30 on 16 February 2017.

Cadila Healthcare announced that the US Food and Drug Administration (USFDA) inspected the company's Moraiya facility in Gujarat from 5 February to 9 February 2018. At the end of the inspection, no observation (483) was issued.

On a consolidated basis, net profit of Cadila Healthcare rose 71.64% to Rs 542.90 crore on 41.88% rise in net sales to Rs 3191.80 crore in Q3 December 2017 over Q3 December 2016.

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

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