Pharmaceutical major, Cadila Healthcare announced on Saturday that it has received a tentative approval from the U.S. Food and Drug Administration (USFDA) to market Apremilast tablets in multiple strengths (10mg, 20 mg and 30 mg).
The drug is used in treatment of certain type of arthritis (psoriatic arthritis) and a certain type of skin condition. It is also used in treatment of Behcet's disease, a type of inflammatory disorder and helps to reduce the pain and improve the healing of these mouth sores.
The drug will will be manufactured at the company's manufacturing facility located in SEZ, Ahmedabad. The group now has 276 approvals and has so far filed over 360 ANDAs since the commencement of the filing process in FY2003-04.
The drug maker declared Q2 results on 13 November 2019. On consolidated basis, company's net profit declined 74.3% to Rs 107.20 crore on a 14.1% rise in net sales to Rs 3244.20 crore in Q2 September 2019 over Q2 September 2018.
Shares of Cadila Healthcare rose 1.94% to Rs 238.90. The stock is trading near its 52-week low of Rs 206.45 registered on 22 August 2019.
Cadila Healthcare is headquartered in Ahmedabad, India, and ranks 4th in the Indian pharmaceutical industry. The group has manufacturing sites and research facilities spread across five states of Gujarat, Maharashtra, Goa, Himachal Pradesh and Sikkim in India and in the US and Brazil.
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