Cadila Healthcare gains on USFDA nod for anti-diabetic drug

The stock moved higher by 5% to Rs 375 on the BSE.

Cadila Healthcare has moved higher by 5% to Rs 375 on the BSE after the company announced that it has received final approval from the US drug regulator for an oral anti-diabetic drug.

“Zydus Cadila has received the final approval from the US Food and Drug Administration (USFDA) to market Nateglinide Tablets USP in strengths of 60 milligram (mg) and 120 mg,” Cadila Healthcare said in a regulatory filing.

The drug is an oral anti-diabetic agent used in the management of Type 2 diabetes mellitus. It will be produced at the group's formulations manufacturing facility at the pharma special economic zone (SEZ) in Ahmedabad, it added.

Till 12:12 PM, a combined 1.5 million shares changed hands on the counter on the BSE and NSE.