Cadila Healthcare slips on buzz of recalling bottles of hypertension drug in US

Cadila Healthcare fell 1.26% to Rs 1,566 at 9:29 IST on BSE on reports the company is voluntarily recalling 15,144 bottles of its anti-hypertension drug Amlodipine Besylate tablets in the US market.

Meanwhile, the BSE Sensex was down 24.73 points, or 0.09%, to 28,094.67.

On BSE, so far 709 shares were traded in the counter, compared with an average volume of 12,781 shares in the past one quarter.

The stock hit a high of Rs 1,576.25 and a low of Rs 1,559.20 so far during the day. The stock hit a record high of Rs 1,760 on 11 November 2014. The stock hit a 52-week low of Rs 723.10 on 11 December 2013.

The stock had outperformed the market over the past one month till 8 December 2014, rising 6.44% compared with 0.90% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 22.95% as against Sensex's 2.93% rise.

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

According to reports, Zydus Pharmaceuticals USA Inc, the US-based arm of the company, is recalling the drug due to discoloration.

Brown spots were noted embedded in Amlodipine Besylate Tablets, 10 mg, the US Food and Drug Administration (USFDA) reportedly said.

The nationwide recall has been initiated under Class-III which FDA defined as a situation in which use of or exposure to a violative product is not likely to cause adverse health consequences, reports added.

The tablets, which are indicated for the treatment of hypertension, to lower blood pressure, were manufactured by Cadila Healthcare and distributed by Zydus Pharmaceuticals USA Inc, reports said.

On a consolidated basis, Cadila Healthcare's net profit rose 52% to Rs 278 crore on 21% growth in total operating income to Rs 2108 crore in Q2 September 2014 over Q2 September 2013.

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

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