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Cadila Healthcare gains after USFDA approval for drug

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rose 1.34% to Rs 430.60 at 11:56 on after the company said it received final approval from the regulator for Hydrochloride Capsules

The announcement was made during trading hours today, 29 December 2017.

Meanwhile, the Sensex was up 162.29 points, or 0.48% to 34,010.32.

On the BSE, 22,000 shares were traded in the counter so far, compared with average daily volumes of 1.66 lakh shares in the past two weeks. The stock had hit a high of Rs 435 and a low of Rs 424.05 so far during the day. The stock hit a record high of Rs 558 on 12 June 2017. The stock hit a 52-week low of Rs 334.35 on 31 January 2017.

Zydus Pharmaceuticals (USA) Inc., a wholly of Cadila Healthcare, has received the final approval from the (USFDA) to market Hydrochloride Capsules in strengths of 25 mg, 50 mg and 75 mg.

The drug is used to treat which is characterized by uncontrollable, re-occurring thoughts (obsessions) and behaviours (compulsions). It will be manufactured at the group's at special economic zone (SEZ), Ahmedabad.

The group now has more than 180 approvals and has so far filed over 310 Abbreviated New Drug Applications (ANDAs) since the commencement of the filing process in FY 2003-2004.

On a consolidated basis, net profit of rose 32.48% to Rs 503.30 crore on 35.04% rise in net sales to Rs 3154.90 crore in Q2 September 2017 over Q2 September 2016.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, December 29 2017. 11:57 IST