Cadila Healthcare gains after receiving final approval for Pyridostigmine Bromide tablets

Cadila Healthcare rose 2.26% to Rs 1770.75 at 10:43 IST on BSE after the company said it received US drug regulator's final approval for Pyridostigmine Bromide tablets.

The announcement was made during trading hours today, 24 June 2015.

Meanwhile, the BSE Sensex was up 64.93 points, or 0.23%, to 27,869.30.

On BSE, so far 6,723 shares were traded in the counter, compared with an average volume of 14,100 shares in the past one quarter.

The stock hit a high of Rs 1,779.80 and a low of Rs 1,739.55 so far during the day. The stock hit a record high of Rs 1,998 on 7 April 2015. The stock hit a 52-week low of Rs 994 on 24 June 2014.

The stock had underperformed the market over the past one month till 23 June 2015, falling 1.27% compared with 0.55% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 5.62% as against Sensex's 1.38% fall.

The large-cap company has an equity capital of Rs 102.37 crore. Face value per share is Rs 5.

Zydus Cadila has received the final approval from the US Food and Drug Administration (USFDA) to market Pyridostigmine Bromide tablets USP, 60 milligram (mg) in the US market.

The estimated sales in 2015 for Pyridostigmine Bromide tablets USP, which is used in the treatment of various neurological disorders, is $27.90 million in the US market, as per IMS.

The Zydus group now has 100 approvals and has so far filed over 260 Abbreviated New Drug Applications (ANDAs) since the commencement of the filing process in the fiscal year 2003-04.

On a consolidated basis, net profit of Cadila Healthcare rose 46.49% to Rs 350.38 crore on 17.26% rise in net sales to Rs 2247.12 crore in Q4 March 2015 over Q4 March 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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