Cadila Healthcare rises on USFDA tentative nod to market Parkinsons disease drug

Shares of the drug maker rose 1.43% to Rs 394 after the company said it received tentative approval from the US-based drug regulator to market Carbidopa and Levodopa extended-release capsules in multiple strengths.

Zydus Cadila said the medication is used to treat the symptoms of Parkinson's disease (such as shakiness, stiffness, difficulty moving) or Parkinson-like conditions. The drug will be manufactured at the group's formulation manufacturing facility at SEZ, Ahmedabad in Gujarat.

The group now has 295 approvals and has filed over 390 Abbreviated New Drug Application (ANDAs) since the commencement of the filing process in FY 2003-04. The announcement was made on Saturday, 1 August 2020.

Cadila Healthcare's consolidated net profit fell 13.7% to Rs 413.50 crore on 0.2% rise in net sales at Rs 3,627.20 crore in Q4 FY20 over Q4 FY19.

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

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