Cadila Healthcare rose 2.7% to Rs 546 at 14:50 IST on BSE after the company announced that it has received final approval from US drug regulator for Mesalamine Delayed-Release Tablets, 800 mg.
The announcement was made during market hours today, 25 July 2017.Meanwhile, the S&P BSE Sensex was down 20.58 points or 0.06% at 32,231.66.
On the BSE, 1.45 lakh shares were traded on the counter so far as against the average daily volumes of 1.52 lakh shares in the past one quarter. The stock had hit a high of Rs 554.20 and a low of Rs 531.10 so far during the day. The stock had hit a record high of Rs 558 on 12 June 2017 and a 52-week low of Rs 329.95 on 26 December 2016.
The stock had underperformed the market over the past one month till 24 July 2017, rising 1.25% compared with 3.56% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 17.83% as against Sensex's 8.73% rise. The scrip had also outperformed the market in past one year, jumping 42.99% as against Sensex's 15.98% rise.
The large-cap company has equity capital of Rs 102.37 crore. Face value per share is Rs 1.
Cadila Healthcare said that it has received the final approval from the United States Food & Drug Administration (USFDA) for Mesalamine Delayed-Release Tablets, in the strength of 800 mg.
The drug will be manufactured at the group's formulation manufacturing facility at Moraiya.
Cadila Healthcare's consolidated net profit fell 32.2% to Rs 385.50 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
