Cadila Healthcare moves up after facility clears USFDA inspection

Cadila Healthcare gained 3.07% to Rs 461.85 at 15:00 IST on BSE after the company announced that its Topical manufacturing facility in Ahmedabad successfully completed US drug regulator's inspection.

The announcement was made during market hours today, 7 April 2017.

Meanwhile, the S&P BSE Sensex was down 199.81 points or 0.67% at 29,727.53.

Higher than normal volumes were witnessed on the counter. On the BSE, 9.26 lakh shares were traded on the counter so far as against the average daily volumes of 1.3 lakh shares in the past one quarter. The stock had hit a high of Rs 466.10 in intraday trade, which is also a record high for the stock. The stock hit a low of Rs 447.50 so far during the day. The stock had hit a 52-week low of Rs 305 on 12 April 2016.

The stock had underperformed the market over the past one month till 6 April 2017, gaining 2.18% compared with Sensex's 3.03% gains. The scrip had, however, outperformed the market in past one quarter, advancing 18.14% as against Sensex's 11.84% rise.

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

Cadila Healthcare announced that United States Food & Drug Administration (USFDA) issued no observation (483) after inspecting company's Topical manufacturing facility in Changodar near Ahmedabad from 3 April to 7 April 2017.

The company has filed 17 products with the USFDA from this manufacturing facility, it added.

Cadila Healthcare's consolidated net profit fell 34.6% to Rs 281.60 crore on 0.8% decline in net sales to Rs 2249.60 crore in Q3 December 2016 over Q3 December 2015.

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

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