Cadila Healthcare gains after clearing USFDA inspection

Cadila Healthcare rose 1.1% to Rs 352.50 after the company announced that the USFDA has completed inspection of company's wholly-owned subsidiary with no observation.

The announcement was made before market hours today, 6 June 2018.

Meanwhile, the S&P BSE Sensex was up 151.25 points, or 0.43% to 35,054.46.

On the BSE, 52,000 shares were traded in the counter so far compared with average daily volumes of 1.29 lakh shares in the past two weeks. The stock had hit a high of Rs 359.85 and a low of Rs 346.05 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 361.45 on 23 March 2018.

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

Cadila Healthcare said that the USFDA has inspected the manufacturing facility of wholly- owned subsidiary, Alidac Pharmaceuticals, located at SEZ, Ahmedabad from 28 May 2018 to 5 June 2018. At the end of the inspection, no observation (483)is issued. The site manufactures oncology injectables for the regulated markets.

On a consolidated basis, net profit of Cadila Healthcare rose 53.26% to Rs 590.80 crore on 31.03% rise in net sales to Rs 3152.70 crore in Q4 March 2018 over Q4 March 2017.

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

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