Cadila Healthcare gains after USFDA approval for drugs

Cadila Healthcare rose 1.53% to Rs 354.55 at 14:46 IST on BSE after receiving final approvals from the US drug regulator for Betamethasone Dipropionate cream and Amlodipine & Atorvastatin tablets.

The announcement was made on Saturday, 12 January 2019.

Meanwhile, the S&P BSE Sensex was down 182.47 points, or 0.51% to 35,827.37.

On the BSE, 70,000 shares were traded in the counter so far compared with average daily volumes of 43,000 shares in the past two weeks. The stock had hit a high of Rs 355.40 and a low of Rs 349.70 so far during the day. The stock hit a 52-week high of Rs 450.95 on 15 January 2018. The stock hit a 52-week low of Rs 330.65 on 26 October 2018.

Cadila Healthcare said Zydus Cadila has received the final approval from the US Food and Drug Administration (USFDA) to market Betamethasone Dipropionate Cream USP (US RLD - DIPROLENE AF), 0.05%. It will be manufactured at the group's topical manufacturing facility at Ahmedabad. This medication is a strong corticosteroid and is used to treat a variety of skin conditions (e.g., eczema, dermatitis, allergies, rash). Betamethasone reduces the swelling, itching and redness that can occur in these types of conditions.

The group also received a final approval for Amlodipine and Atorvastatin Tablets USP (US RLD Caduet) in multiple strengths. It will be manufactured at the group's formulations manufacturing facility at SEZ, Ahmedabad. This combination product contains two active ingredients - amlodipine and atorvastatin. Amlodipine reduces blood pressure and the workload on the heart by relaxing the walls of the blood vessels. It is used to lower blood pressure and to treat angina (chest pain). Atorvastatin is used in combination with diet and exercise to treat high cholesterol. It works by blocking an enzyme that is needed to make cholesterol in the body.

The group now has 245 approvals and has so far filed over 330 Abbreviated New Drug Application (ANDAs) since the commencement of the filing process in FY 2003-2004.

On a consolidated basis, net profit of Cadila Healthcare declined 17.05% to Rs 417.50 crore on 9.51% decline in net sales to Rs 2844.10 crore in Q2 September 2018 over Q2 September 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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