Cadila Healthcare rose 7.46% to Rs 527 at 11:21 IST on BSE after the company said it received final approval for Mesalamine delayed-release tablets from the US drug regulator.
The announcement was made before trading hours today, 7 June 2017.Meanwhile, the S&P BSE Sensex was up 131.62 points, or 0.42% to 31,322.18.
On the BSE, 8.97 lakh shares were traded in the counter so far, compared with average daily volumes of 1.24 lakh shares in the past one quarter. The stock had hit a high of Rs 539.40 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 491.05 so far during the day. The stock hit a 52-week low of Rs 305.05 on 24 June 2016.
The stock had outperformed the market over the past one month till 6 June 2017, 5.13% compared with 4.23% rise in the Sensex. The scrip had also outperformed the market in past one quarter, 10.80% as against Sensex's 7.92% rise. The scrip had also outperformed the market in past one year, 53.49% as against Sensex's 15.48% rise.
The large-cap company has equity capital of Rs 102.37 crore. Face value per share is Re 1.
Also Read
Cadila Healthcare informed that the US Food and Drug Administration (USFDA) has given final approval to market Mesalamine delayed-release tablets USP, I.2 g in the US market. Cadila Healthcare was the first to file an Abbreviated New Drug Application (ANDA) for a generic version of Lialda (mesalamine).
Lialda is indicated for the treatment of mild to moderate ulcerative colitis. Ulcerative colitis is a chronic inflammatory bowel disease that affects approximately 700,000 people in the United States. The generic version of Lialda (mesalamine) will be produced at Moraiya plant in Ahmedabad. The estimated brand sales for Mesalamine delayed-release tablets USP, 1.2 g is $1.145 billion as per IMS MAT April 2017.
The group now has more than 115 approvals and has so far filed over 300 ANDAs since the commencement of the filing process in the financial year ended March 2004.
Cadila Healthcare's consolidated net profit fell 32.2% to Rs 385.5 crore on 6.5% rise in net sales to Rs 2417.50 crore in Q4 March 2017 over Q4 March 2016.
Cadila Healthcare is an innovative, global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
