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Cadila Healthcare gains after USFDA approval for drug

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rose 1% to Rs 393.25 at 12:15 IST on after the company said it received final approval from the regulator for its tablets.

The announcement was made during trading hours today, 13 March 2018.

Meanwhile, the Sensex was up 79.69 points, or 0.23% to 33,997.63.

On the BSE, 38,000 shares were traded in the counter so far compared with average daily volumes of 56,000 shares in the past two weeks. The stock had hit a high of Rs 397.35 and a low of Rs 379.20 so far during the day. The stock hit a 52-week high of Rs 558 on 12 June 2017. The stock hit a 52-week low of Rs 373.05 on 6 February 2018.

Zydus Cadila has received the final approval from the (USFDA) to market tablets USP in the strengths of 2 mg and 4 mg. The drug is used to treat caused by certain conditions such as multiple sclerosis, and works by helping to relax the muscles. It will be manufactured at the group's formulations manufacturing facility at special economic zone (SEZ), Ahmedabad. The group now has more than 180 approvals and has so far filed over 320 abbreviated new drug applications (ANDAs) since the commencement of the filing process in FY 2003-2004.

On a consolidated basis, net profit of rose 71.64% to Rs 542.90 crore on 41.88% rise in net sales to Rs 3191.80 crore in Q3 December 2017 over Q3 December 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: Tue, March 13 2018. 12:25 IST