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Cadila Healthcare recovers after getting USFDA nod for drug

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gained 1.36% to Rs 498.05 at 14:#0 on after the company said that it received final approval from the US drug regulator to market Desvenlafaxine Extended-Release Tablets, 50 mg and 100 mg.

The announcement was made during market hours today, 12 October 2017.

Meanwhile, the S&P Sensex was up 242.19 points, or 0.75% to 32,071.80.

On the BSE, 42,411 shares were traded in the counter so far, compared with average daily volumes of 1.1 lakh shares in the past one quarter. The stock had hit a high of Rs 503 and a low of Rs 490.40 so far during the day. The stock had hit a record high of Rs 558 on 12 June 2017. The stock had hit a 52-week low of Rs 329.95 on 26 December 2016.

The stock had dropped 1.87% in four sessions to settle at Rs 491.35 yesterday, 11 October 2017, from a close of Rs 500.75 on 5 October 2017.

The stock had outperformed the market over the past one month till 11 October 2017, gaining 2.95% compared with the Sensex's 0.15% fall. The stock had, however, underperformed the market over the past one quarter, dropping 5.05% as against the Sensex's 0.27% rise. The scrip had, however, outperformed the market over the past one year, advancing 26.34% as against the Sensex's 13.36% rise.

The large-cap company has equity capital of Rs 102.37 crore. Face value per share is Re 1.

said that the drug is used to treat major depression and will be manufactured at the group's formulations manufacturing facility at Moraiya, Ahmedabad, Gujarat.

Cadila Healthcare's consolidated net profit fell 65.3% to Rs 138.40 crore on 3.6% fall in net sales to Rs 2135.70 crore in Q1 June 2017 over Q1 June 2016.

is a global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies.

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

First Published: Thu, October 12 2017. 14:58 IST