Cadila Healthcare gains on USFDA nod for anti-diabetic drug

The company has received final approval from the USFDA for Glyburide and Metformin Hcl tablets USP

Shares of Cadila Healthcare were up over 2% at Rs 322 after the company said that it has received final approval from the USFDA for Glyburide and Metformin Hcl tablets USP from its formulation manufacturing facility at Baddi.

The final approval from the USFDA is for Glyburide and Metformin Hcl tablets USP in strengths of 1.25/250, 2.5/500 and 5/500 mg, the company said in a release.

The drug falls in the anti-diabetics segment and the group's formulations manufacturing site at Baddi will be producing the drug for the US market.

The stock opened at Rs 317 and touched a high of Rs 325. At 2pm, over 569,000 shares were traded on both the stock exchanges.