Cadila Healthcare in reverse gear

Meanwhile, the S&P BSE Sensex was 46.64 points, or 0.24%, to 19,592.42.

On BSE, 95,000 shares were traded in the counter as against an average daily volume of 11,466 shares in the past one quarter.

The stock hit a high of Rs 838 and a low of Rs 765 so far during the day. The stock had hit a 52-week high of Rs 964 on 12 September 2012. The stock had hit a 52-week low of Rs 705.05 on 4 June 2012.

Shares of Cadila Healthcare had risen 5.48% to Rs 814.45 on Tuesday, 4 June 2013. The stock had outperformed the market over the past one month till 4 June 2013, rising 4.75% compared with the Sensex's 0.15% fall. The scrip had also outperformed the market in past one quarter, rising 5.66% as against Sensex's 3.54% rise.

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

Cadila Healthcare announced during trading hours today, 5 June 2013, that it received regulatory approval to market Lipaglyn, its new drug to treat a form of diabetes, in India. Lipaglyn is a new chemical entity (NCE), Cadila said in a statement.

The Drug Controller General of India (DCGI) approved Cadila Healthcare to launch Lipaglyn (Saroglitazar), a novel drug targeted at bridging an unmet healthcare need for treating Diabetic Dyslipidemia or Hypertriglyceridemia in Type II diabetes, not controlled by statins alone.

Lipaglyn is the first Glitazar to be approved in the world and is the first NCE discovered and developed indigenously by an Indian pharma company.

Diabetic Dyslipidemia is a condition where a person is diabetic and has elevated levels of the total cholesterol, the 'bad' low-density lipoprotein (LDL) cholesterol and the triglycerides and a decrease in the 'good' high-density lipoprotein (HDL) cholesterol concentration in the blood. Optimal LDL cholesterol levels for adults with diabetes are less than 100 milligram/decilitre (mg/dL), optimal HDL cholesterol levels are equal to or greater than 40 mg/dL, and desirable triglycerides levels are less than 150 mg/dL. Lipaglyn, a non-thiazolidinedione, is the first therapy to be approved for this condition.

Cadila Healthcare's consolidated net profit surged 54% to Rs 263 crore on 16% growth in gross sales to Rs 1599 crore in Q4 March 2013 over Q4 March 2012.

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

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