Cadila Healthcare gains after receiving tentative approval from USFDA for drug

Cadila Healthcare rose 1.22% to Rs 339.60 at 14:20 IST on BSE after the company received tentative approval from the USFDA to market Clofarabine Injection 20mg/20ml vials in the US.

The announcement was made during market hours today, 9 March 2016.

Meanwhile, the BSE Sensex was up 50.55 points, or 0.2%, to 24,709.78.

On BSE, so far 92,956 shares were traded in the counter, compared with an average volume of 2.64 lakh shares in the past one quarter. The stock hit a high of Rs 341.80 and a low of Rs 331.50 so far during the day. The stock hit a record high of Rs 454.40 on 23 October 2015. The stock hit a 52-week low of Rs 295.50 on 18 January 2016. The stock had outperformed the market over the past one month till 8 March 2016, rising 2.47% compared with gains of 1.53% in the Sensex. The scrip had, however, underperformed the market in past one quarter, sliding 14.77% as against Sensex's 2.57% fall.

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

Cadila Healthcare's consolidated net profit rose 38.2% to Rs 389.60 crore on 8.1% growth in net sales to Rs 2341.80 crore in Q3 December 2015 over Q3 December 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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