Cadila Healthcare gains ahead of presenting new data of Saroglitazar

Cadila Healthcare rose 1% to Rs 423 at 9:43 IST on BSE after the company said that new data of Saroglitazar will be presented at The Liver Meeting being held at Boston from 11 to 15 November 2016.

The announcement was made yesterday, 31 October 2016. Meanwhile, the BSE Sensex was down 9.75 points, or 0.03%, to 27,920.46.

On BSE, so far 17,000 shares were traded in the counter, compared with average daily volume of 86,520 shares in the past one quarter. The stock hit a high of Rs 429.45 and a low of Rs 417.55 so far during the day. The stock hit a 52-week high of Rs 437 on 5 November 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 30 days till 30 October 2016, rising 7.94% compared with 0.23% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 18.84% as against Sensex's 0.26% decline.

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

Cadila Healthcare said that Saroglitazar (Lipaglyn), a novel agonist having predominant PPAR alpha activity, was launched in India as a prescription medicine for the treatment of Hypertriglyceridemia and Diabetic Dyslipidemia in patients with Type 2 Diabetes not controlled by statins. Saroglitazar is currently being evaluated in several clinical trials in India and other countries.

Cadila Healthcare's consolidated net profit fell 28.93% to Rs 337.60 crore on 3.08% increase in net sales to Rs 2336.30 crore in Q2 September 2016 over Q2 September 2015.

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

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