Cadila Healthcare sweetens after securing USFDA nod

Cadila Healthcare advanced 2.43% to Rs 358.55 at 15:12 IST on BSE after the company announced that it has received final approval from the USFDA for Clindamycin Phosphate Topical Solution USP.

The announcement was made during market hours today, 17 July 2018.

Meanwhile, the S&P BSE Sensex was up 181.97 points, or 0.5% to 36,505.74

On the BSE, 1.10 lakh shares were traded in the counter so far compared with average daily volumes of 1.21 lakh shares in the past two weeks. The stock had hit a high of Rs 363 and a low of Rs 342 so far during the day. The stock hit a 52-week high of Rs 554.20 on 25 July 2017. The stock hit a 52-week low of Rs 341.65 on 22 May 2018.

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

Zydus Cadila has received the final approval from the USFDA to market Clindamycin Phosphate Topical Solution USP (Cleocin T), 1%. Clindamycin is an antibiotic which works by stopping the growth of bacteria. It is used to treat acne and helps to decrease the number of acnelesions. It will be manufactured at group's topical manufacturing facility at Ahmedabad.

In line with this, the group now has 204 approvals and has so far filed over 330 ANDAs since the commencement of the filing process in FY 2003-04.

On a consolidated basis, net profit of Cadila Healthcare rose 53.26% to Rs 590.80 crore on 31.03% rise in net sales to Rs 3152.70 crore in Q4 March 2018 over Q4 March 2017.

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

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