Cadila Healthcare rose 2.4% to Rs 396.40 at 12:25 IST on BSE after the company said it entered into partnership with Takeda Pharmaceutical Company to address emerging infectious diseases.
The announcement was made during market hours today, 20 September 2016.Meanwhile, the BSE Sensex was down 95.27 points, or 0.33%, to 28,539.23.
On BSE, so far 92,989 shares were traded in the counter, compared with average daily volume of 1.08 lakh shares in the past one quarter. The stock hit a high of Rs 410.90 and a low of Rs 372.30 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 outperformed the market over the past one month till 19 September 2016, gaining 3.92% compared with Sensex's 1.99% rise. The scrip had also outperformed the market in past one quarter, gaining 23.54% as against Sensex's 7.54% rise.
The large-cap company has equity capital of Rs 102.37 crore. Face value per share is Re 1.
Cadila Healthcare and Takeda Pharmaceutical Company (Takeda) announced a partnership to tackle chikungunya, an emerging infectious disease. The chikungunya virus is most often spread to people by Aedes aegypti and Aedes albopictus mosquitoes, the same vectors that spread dengue and zika. The broad-based agreement includes early stage development to the final commercialisation of the vaccine. There is currently no vaccine to prevent or medicine to treat chikungunya virus infection. Terms of the agreement are not disclosed, but it is expected that this partnership will boost access to medicines in the future through this novel partnership.
Chikungunya has been identified in over 60 countries in Asia, Africa, Europe and the Americas. After the bite of an infected mosquito, onset of illness occurs usually between 4 and 8 days but can range from 2 to 12 days. In some people, the joint pain may persist for months. People at risk for severe indications include newborns infected around the time of birth, older adults (?65 years), and people with medical conditions such as high blood pressure, diabetes, or heart disease.
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Since 2005, India, Indonesia, Maldives, Myanmar and Thailand have reported over 19 lakh cases and almost 13 lakh suspected cases of Chikungunya being recorded in the Caribbean islands, Latin American countries, and the United States of America till 2015.
On a consolidated basis, Cadila Healthcare's net profit fell 22.6% to Rs 356.20 crore on 2.2% decline in net sales to Rs 2216.40 crore in Q1 June 2016 over Q1 June 2015.
Cadila Healthcare is a global pharmaceutical company that discovers, manufactures and markets a broad range of healthcare therapies.
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