Cadila Healthcare jumps after USFDA completes inspection of Moraiya facility

Cadila Healthcare rose 3.33% to Rs 512.20 at 14:17 IST on BSE after the company said its Moraiya facility successfully completed US drug regulator's inspection.

The announcement was made during trading hours today, 7 September 2017.

Meanwhile, the S&P BSE Sensex was up 21.58 points, or 0.07% to 31,683.55.

On the BSE, 1.46 lakh shares were traded in the counter so far, compared with average daily volumes of 1.32 lakh shares in the past one quarter. The stock had hit a high of Rs 519.90 and a low of Rs 491.05 so far during the day. The stock hit a record high of Rs 558 on 12 June 2017. The stock hit a 52-week low of Rs 329.95 on 26 December 2016.

The stock had underperformed the market over the past one month till 6 September 2017, falling 6.50% compared with 1.10% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 8.21% as against Sensex's 1.44% rise. The scrip had outperformed the market in past one year, rising 29.88% as against Sensex's 9.46% rise.

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

Cadila Healthcare announced that the US Food and Drug Administration (USFDA) inspected the company's Moraiya facility in Gujarat from 31 August 2017 to 7 September 2017. At the end of the inspection, no observation (483) was issued, the company said.

Cadila Healthcare's consolidated net profit fell 65.3% to Rs 138.40 crore on 3.6% fall in net sales to Rs 2135.70 crore in Q1 June 2017 over Q1 June 2016.

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

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