Cadila Healthcare gains after USFDA approval for antiviral drug

Cadila Healthcare rose 1.40% to Rs 397.75 at 11:20 IST on BSE after the company said it received final approval from the US drug regulator for Acyclovir Sodium injection.

The announcement was made during trading hours today, 5 September 2018.

Meanwhile, the S&P BSE Sensex was down 64.26 points, or 0.17% to 38,093.66.

On the BSE, 70,000 shares were traded in the counter so far compared with average daily volumes of 2.75 lakh shares in the past two weeks. The stock had hit a high of Rs 402.45 and a low of Rs 390 so far during the day. The stock hit a 52-week high of Rs 519.90 on 7 September 2017. The stock hit a 52-week low of Rs 332.85 on 16 August 2018.

Zydus Cadila has received the final approval from the US Food and Drug Administration (USFDA) to market Acyclovir Sodium injection, 500 mg (base)/ 10 mL (50 mg (base)/mL) and 1,000 mg (base)/20 mL (50 mg (base)/mL) single-dose vials (US RLD Zovirax for injection). It will be manufactured at the group's formulations manufacturing facility at Moraiya, Ahmedabad.

Acyclovir is an antiviral drug. It slows the growth and spread of the herpes virus in the body. Acyclovir injection is used to treat severe infections caused by herpes viruses, including severe forms of genital herpes, shingles (varicella-zoster), herpes encephalitis (swelling of the brain), neonatal herpes infection and herpes infections in people with other diseases that weaken the immune system.

The group now has 216 approvals and has so far filed over 330 abbreviated new drug applications (ANDAs) since the commencement of the filing process in FY 2003-2004.

On a consolidated basis, net profit of Cadila Healthcare rose 232.73% to Rs 460.50 crore on 31.47% rise in net sales to Rs 2768.70 crore in Q1 June 2018 over Q1 June 2017.

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

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