Cadilla Healthcare gains on USFDA nod for neurological drug

The USFDA nod is to Pyridostigmine Bromide tablets USP, 60 mg, used to treat various neurological disorders

Shares of Cadilla Healthcare were up over 2% at Rs 1,768 after the company said that it has received final approval to market Pyridostigmine Bromide tablets USP, 60 mg, which is dispensed for the treatment of various neurological disorders.

The estimated sales of the drug in 2015 is $27.9 million as per IMS, the release said.

The group now has 100 proposals and has so far filed over 260 ANDAs since the start of the filing process in FY2003-04, the release added.

The stock opened at 1,739 and touched a high of Rs 1,780. At 12:15PM, over 95,000 shares were traded on both the stock exchanges.