Cadila Healthcare in the pink of health

Cadila Healthcare rose 1.73% to Rs 749.05 at 10:44 IST on BSE after the company and IDRI today, 25 July 2013, signed agreement for the production and clinical development of IDRI's visceral leishmaniasis vaccine candidate.

The announcement was made during trading hours today, 25 July 2013.

Meanwhile, the S&P BSE Sensex was down 26.13 points or 0.13% at 20,064.55.

On BSE, 2,566 shares were traded in the counter as against average daily volume of 38,429 shares in the past one quarter.

The stock hit a high of Rs 757.80 and a low of Rs 735.20 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 714.20 on 22 March 2013.

The stock had underperformed the market over the past one month till 24 July 2013, falling 4.02% compared with the Sensex's 8.36% jump. The scrip had also underperformed the market in the past one quarter, sliding 4.54% as against Sensex's 4.75% rise.

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

Cadila Healthcare and IDRI (Infectious Disease Research Institute) today, 25 July 2013, announced the collaboration on the production and clinical development of IDRI's visceral leishmaniasis vaccine candidate, designed to prevent the deadly parasitic disease. IDRI is a Seattle based non-profit research and product development organization. Cadila and IDRI will collaborate to conduct clinical development activities in India with the goal of developing, registering and marketing visceral leishmaniasis (VL) vaccine candidate for the prevention of VL, which will achieve the objective of global access -- that is, ensuring the vaccine is affordable to and accessible by all people in need. Conducting trials in India, where there are real-life situations of disease exposure, is critical to determining the effectiveness of IDRI's VL vaccine candidate and ensuring it is approved and available within endemic countries.

Speaking on the development, Mr. Pankaj R. Patel, CMD, Zydus group said, "Zydus has always been committed to working with partners and collaborating to bring unmet healthcare needs. By partnering with IDRI on this very important mission, we will be taking an all important step to eradicate visceral leishmaniasis which is a huge healthcare burden".

Cadila Healthcare's consolidated net profit surged 53.6% to Rs 262.46 crore on 16.5% growth in net sales to Rs 1565.76 crore in Q4 March 2013 over Q4 March 2012. The company unveils Q1 June 2013 results on 7 August 2013.

Cadila Healthcare is a global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare products. The company aims to be a leading global healthcare provider with a robust product pipeline. The company aims to achieve sales of over $3 billion by 2015 and be a research-based pharmaceutical company by 2020.

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