Cadila Healthcare sweetens after EIR from USFDA

Cadila Healthcare rose 0.9% to Rs 386.15 at 10:49 IST on BSE after the company's biologics manufacturing facility received an Establishment Inspection Report from the USFDA.

The announcement was made after market hours yesterday, 4 October 2018.

Meanwhile, the S&P BSE Sensex was down 328.07 points, or 0.93% to 34,841.09

On the BSE, 46,000 shares were traded in the counter so far compared with average daily volumes of 1.69 lakh shares in the past two weeks. The stock had hit a high of Rs 389.75 and a low of Rs 383 so far during the day.

Cadila Healthcare said that the company's biologics manufacturing facility (Zydus Biologics) located at the Zydus Biotech Park in Ahmedabad has received an Establishment Inspection Report (EIR) from the USFDA signifying the successful closure of the audit. The plant had completed the USFDA audit from 14 to 24 August 2018 with Zero 483 observations.

On a consolidated basis, net profit of Cadila Healthcare rose 232.73% to Rs 460.50 crore on 31.47% rise in net sales to Rs 2768.70 crore in Q1 June 2018 over Q1 June 2017.

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

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