Cadila Healthcare gains after getting approval from USFDA for Amantadine Hydrochloride Capsules

Cadila Healthcare rose 0.98% to Rs 339.45 at 12:39 IST on BSE after the company received final approval from the US Food and Drug Administration to market Amantadine Hydrochloride Capsules USP, 100 milligram.

The announcement was made during market hours today, 1 June 2016.

Meanwhile, the BSE Sensex was up 76.88 points, or 0.29%, to 26,744.84

On BSE, so far 48,014 shares were traded in the counter, compared with an average volume of 93,210 shares in the past one quarter. The stock hit a high of Rs 343.90 and a low of Rs 337.20 so far during the day. The stock hit a record high of Rs 454.40 on 23 October 2015. The stock hit a 52-week low of Rs 295.50 on 18 January 2016. The stock had underperformed the market over the past one month till 31 May 2016, rising 2.8% compared with Sensex's 4.14% gains. The scrip also underperformed the market in past one quarter, gaining 6.78% as against Sensex's 15.94% gains.

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

Cadila Healthcare said that the estimated sales for Amantadine Hydrochloride Capsules USP as per 1MS (MAT April 2016) is $40.1 million. The drug which is used in the treatment of Parkinson's disease and select viral infections, will be produced at the group's formulations manufacturing facility at the pharma special economic zone in Ahmedabad, the company said. The group now has more than 100 approvals and has so far filed nearly 270 Abbreviated New Drug Applications (ANDAs) since the commencement of the filing process in FY 2003-2004, Cadila Healthcare said.

Cadila Healthcare's consolidated net profit rose 10.9% to Rs 388.70 crore on 5.7% growth in net sales to Rs 2375.50 crore in Q4 March 2016 over Q4 March 2015.

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

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