Cadila Healthcare hits 52-week high

Cadila Healthcare advanced 2.97% to Rs 930 at 10:21 IST on BSE, with the stock extending Friday's 5.85% rally triggered by the company declaring strong Q3 result.

Meanwhile, the S&P BSE Sensex was down 37.48 points or 0.18% at 20,339.08

On BSE, so far 31,445 shares were traded in the counter as against average daily volume of 35,636 shares in the past one quarter.

The stock hit a 52-week high of Rs 935.05 in intraday trade today, 10 February 2014. The stock hit a low of Rs 906 so far during the day. The stock had hit a 52-week low of Rs 631 on 20 August 2013.

The stock had outperformed the market over the past one month till 7 February 2014, rising 12.03% compared with the Sensex's 1.53% fall. The scrip had also outperformed the market in past one quarter, gaining 25.58% as against Sensex's 2.14% fall.

The large-cap company has equity capital of Rs 102.37 crore. Face value per share is Rs 5.

Shares of Cadila Healthcare jumped 9% in two trading days from Rs 853.20 on 6 February 2014 triggered by the company declaring strong Q3 result during trading hours on Friday, 7 February 2014. The stock gained 5.85% to settle at Rs 903.15 on Friday, 7 February 2014.

Cadila Healthcare's consolidated net profit jumped 81.5% to Rs 185.87 crore on 16.6% growth in total income to Rs 1884.47 crore in Q3 December 2013 over Q3 December 2012.

During the quarter, the company's business in the US registered a growth of 61% and Emerging Markets business grew by 30%.

During the quarter, Cadila Healthcare filed 31 additional ANDAs with the USFDA taking the cumulative ANDA filings for the period April-December 2013, to 49. In Mexico, the company launched 2 new products during the quarter, taking the cumulative launches to 6 and filed 8 dossiers with the Mexican regulatory authority, taking the cumulative filings to 36. The company filed 9 dossiers with the ANVISA, taking the cumulative filings to 113. In the European market, the company received the approval for 15 new product dossiers and launched 2 new products in France and 3 new products in Spain. 7 new products were launched in the different Emerging Markets during the quarter, Cadila Healthcare said in a statement.

During the quarter, the company received the USFDA approval for initiating Phase I clinical trials of ZYDPLA1 - a novel, next generation orally active, small molecule DPP-4 inhibitor to treat Type 2 Diabetes.

For Biosimilars, the company initiated Phase III clinical trials for one of the mAbs and completed Phase I clinical trials completed for both the novel biologics, PEGEPO and Rabimabs, Cadila Healthcare said in a statement.

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

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