Cadila Healthcare gets stronger after USFDA nod for drug

Cadila Healthcare rose 0.79% to Rs 526 at 10:00 IST on BSE after the company announced that it received final approval from the US drug regulator for Phentermine Hydrochloride Orally Disintegrating Tablets.

The announcement was made during market hours today, 30 June 2017.

Meanwhile, the S&P BSE Sensex was down 162.07 points, or 0 0.52% to 30,695.86.

On the BSE, 12,589 shares were traded in the counter so far, compared with average daily volumes of 1.54 lakh shares in the past one quarter. The stock had hit a high of Rs 527.35 and a low of Rs 518.80 so far during the day. The stock had hit a record high of Rs 558 on 12 June 2017. The stock had hit a 52-week low of Rs 319.35 on 29 June 2016.

The stock had outperformed the market over the past one month till 29 June 2017, gaining 14.3% compared with 0.81% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 16.61% as against Sensex's 4.49% gains. The scrip had also outperformed the market in past one year, jumping 61.83% as against Sensex's 15.4% gains.

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

Cadila Healthcare said that it has received final approval from the United States Food & Drug Administration (USFDA) to market Phentermine Hydrochloride Orally Disintegrating Tablets in strengths of 15mg, 30 mg and 37.5 mg.

The drug is used together with diet and exercise to treat obesity (overweight) in people with risk factors such as high blood pressure, high cholesterol or diabetes and will be produced at the group's formulations manufacturing facility at Moraiya in Ahmedabad.

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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