Cadila Healthcare inches up after signing in-licensing deal with Neovii

Cadila Healthcare rose 0.9% to Rs 392.10 at 12:53 IST on BSE after the company said it has entered into an in-licensing agreement with Neovii to launch a drug in India.

The announcement was made during market hours today, 6 October 2016.

Meanwhile, the S&P BSE Sensex was up 95.80 points or 0.34% at 28,316.78.

On BSE, so far 17,000 shares were traded in the counter as against average daily volume of 1.07 lakh shares in the past one quarter. The stock hit a high of Rs 393.80 and a low of Rs 389.55 so far during the day. The stock had hit a record high of Rs 454.40 on 23 October 2015. The stock had hit a 52-week low of Rs 295.50 on 18 January 2016. The stock had outperformed the market over the past one month till 5 October 2016, advancing 1.07% compared with 1.09% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 16.12% as against Sensex's 3.88% rise.

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

Cadila Healthcare announced that it has entered into an in-licensing agreement with Switzerland-based global biopharmaceutical company Neovii to launch Grafalon, an immunosuppresant extensively used in solid organ transplants and stem cell transplant in India. Neovii has been dedicated for over three decades to improve the outcomes in transplantation medicine, hemato-oncological and immune disorders.

On a consolidated basis, Cadila Healthcare's net profit fell 22.6% to Rs 356.20 crore on 2.2% decline in net sales to Rs 2216.40 crore in Q1 June 2016 over Q1 June 2015.

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

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