Cadila Healthcare gains after announcing settlement on Livalo tablets

Cadila Healthcare rose 0.59% to Rs 351.20 at 12:45IST on BSE after the company announced settlement with Kowa Company, Kowa Pharmaceuticals America and Nissan Chemical Industries on Livalo tablets.

The announcement was made during trading hours today, 17 January 2017.

Meanwhile, the BSE Sensex was down 102.27 points, or 0.37%, to 27,185.90.

On the BSE, so far 12,000 shares were traded in the counter, compared with average daily volumes of 64,626 shares in the past one quarter. The stock had hit a high of Rs 352.10 and a low of Rs 348.40 so far during the day.

The stock hit a 52-week high of Rs 429.45 on 1 November 2016. The stock hit a 52-week low of Rs 295.50 on 18 January 2016. The stock had underperformed the market over the past 30 days till 16 January 2017, falling 7.15% compared with the 3.01% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 11.29% as against Sensex's 2.72% decline.

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

Cadila Healthcare, a global pharmaceuticals company, and its subsidiary Zydus Pharmaceuticals (USA) Inc., a leading generic pharmaceutical company in the United States, announced that they have finalized an agreement with Kowa Company, Kowa Pharmaceuticals America, Inc. and Nissan Chemical Industries, to settle all outstanding patent litigation related to Livalo (pitavastatin calcium) tablets.

Under the terms of the agreement, Kowa and Nissan grants Zydus a license to market Zydus' generic version of Livalo beginning on 2 May 2023, or earlier under certain circumstances. Other terms of the settlement were not disclosed.

On a consolidated basis, net profit of Cadila Healthcare declined 28.93% to Rs 337.60 crore on 3.08% rise in net sales to Rs 2336.30 crore in Q2 September 2016 over Q2 September 2015.

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

Powered by Capital Market - Live News