Cadila Healthcare gains after receiving final approval for Methotrexate tablets

Cadila Healthcare rose 1.6% to Rs 355.40 after the company announced that it has received final approval from the USFDA for Methotrexate tablets USP.

The announcement was made during market hours today, 18 January 2017.

Meanwhile, the BSE Sensex was up 21.98 points, or 0.08%, to 27,257.64

On the BSE, 93,000 shares were traded in the counter, compared with average daily volumes of 64,465 shares in the past one quarter. The stock had hit a high of Rs 359.30 and a low of Rs 351.30.

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 17 January 2017, sliding 6.04% compared with the 3.26% rise in the Sensex. The scrip also underperformed the market in past one quarter, sliding 10.42% as against Sensex's 2.68% decline.

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

Cadila Healthcare said that the company has received final approval from the US Food and Drug Administration (USFDA) for Methotrexate tablets USP. 2.5 mg, a chemotherapy drug used for leukemias, lymphnomas, breast cancer, lung cancer, head and neck cancers and other cancers. The drug will be produced at group's formulations manufacturing facility at the pharma special economic zone in Ahmedabad. The group now has more than 105 approvals and has so far filed nearly 275 Abbreviated New Drug Applications (ANDAs) since the commencement of the filing process in the financial year ended 31 March 2004.

Cadila Healthcare during trading hours yesterday, 17 January 2017 announced settlement with Kowa Company, Kowa Pharmaceuticals America and Nissan Chemical Industries on Livalo tablets. The stock had gained 0.19% to settle at Rs 349.80 yesterday, 17 January 2017.

On a consolidated basis, net profit of Cadila Healthcare declined 28.97% 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.

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