Cadila Healthcare gains after tentative USFDA approval for diabetes drug

Cadila Healthcare jumped 2.48% to Rs 332 after the company said it received tentative approval from the US drug regulator for Empagliflozin and Metformin Hydrochloride tablets.

The company has received tentative approval from the US Food and Drug Administration (USFDA) to market Empagliflozin and Metformin Hydrochloride tablets, 5 mg/500 mg, 5 mg/1000 mg, 12.5 mg/500 mg, and 12.5 mg/1000 mg.

A combination of 2 drugs: empagliflozin and metformin, this medication is used with a proper diet and exercise programme to control high blood sugar in people with type 2 diabetes. It will be manufactured at the group's formulations manufacturing facility at SEZ in Ahmedabad.

The group now has 289 approvals and has so far filed over 386 ANDAs since the commencement of the filing process in FY 2003-04.

On a consolidated basis, the drug maker's net profit tanked 26.54% to Rs 375.18 crore on a 0.52% rise in net sales to Rs 3,534.50 crore in Q3 December 2019 Q3 December 2018.

Cadila Healthcare is a pharmaceutical company based in India.

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