Cadila Healthcare gains after launch of diabetes drug

Cadila Healthcare rose 0.93% to Rs 421.20 at 10:37 IST on BSE after the company announced the launch of Tenglyn - Teneligliptin 20 mg tablets, which belongs to a new class of oral anti-diabetic agents, Gliptins.

The announcement was made after market hours on Friday, 20 November 2015.

Meanwhile, the S&P BSE Sensex was down 21.78 points or 0.08% at 25,846.71.

On BSE, so far 22,000 shares were traded in the counter as against average daily volume of 81,599 shares in the past one quarter.

The stock hit a high of Rs 424.30 and a low of Rs 419.60 so far during the day. The stock had hit a record high of Rs 454.40 on 23 October 2015. The stock had hit a 52-week low of Rs 254.98 on 1 December 2014.

The stock had outperformed the market over the past one month till 20 November 2015, sliding 3.49% compared with Sensex's 5.27% fall. The scrip had also outperformed the market in past one quarter, surging 7.65% as against Sensex's 6.3% fall.

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

With an aim to make this important therapy affordable and accessible to diabetic patients, Tenglyn is being priced at just Rs 7 per tablet which is almost 1/6th the price at which the Gliptins were initially launched in India, Cadila Healthcare said in a statement.

On consolidated basis, Cadila Healthcare's net profit rose 40.6% to Rs 390.91 crore on 15% growth in net sales to Rs 2373.80 crore in Q2 September 2015 over Q2 September 2014.

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

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