Cadila Healthcare gains after USFDA nod for Acyclovir

Cadila Healthcare rose 1.83% to Rs 538.55 at 10:12 IST on BSE after the company said it received final approval from the US drug regulator for Acyclovir for injection USP.

The announcement was made during trading hours today, 15 June 2017.

Meanwhile, the S&P BSE Sensex was up 15.23 points, or 0.05% to 31,171.14.

On the BSE, 26,000 shares were traded in the counter so far, compared with average daily volumes of 1.51 lakh shares in the past one quarter. The stock had hit a high of Rs 542 and a low of Rs 528.85 so far during the day. The stock hit a record high of Rs 558 on 12 June 2017. The stock hit a 52-week low of Rs 305.05 on 24 June 2016.

The stock had outperformed the market over the past one month till 14 June 2017, rising 8.18% compared with 1.87% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 19.43% as against Sensex's 5.31% rise. The scrip had also outperformed the market in past one year, rising 65.84% as against Sensex's 16.57% rise.

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

Cadila Healthcare said it received the final approval from the US Food and Drug Administration (USFDA) to market Acyclovir for injection USP in strengths of 500 mg/vial and 1000 mg/vial. Acyclovir for Injection USP, which caters to the anti-viral segment, will be produced at the group's formulations manufacturing facility at Moraiya, Ahmedabad.

The group now has more than 120 approvals and has so far filed over 300 Abbreviated New Drug Applications (ANDAs) since the commencement of the filing process in financial year ending March 2004.

Cadila Healthcare's consolidated net profit fell 32.2% to Rs 385.5 crore on 6.5% rise in net sales to Rs 2417.50 crore in Q4 March 2017 over Q4 March 2016.

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

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