Cadila Healthcare rose 1.15% to Rs 348.60 at 9:26 IST on BSE after the company said it received final approval from the US drug regulator to market Clindamycin Phosphate and Benzoyl Peroxide Gel.
The announcement was made on Saturday, 29 December 2018.Meanwhile, the S&P BSE Sensex was up 101.64 points, or 0.28% to 36,178.36.
On the BSE, 8,596 shares were traded in the counter so far compared with average daily volumes of 52,000 shares in the past two weeks. The stock had hit a high of Rs 350.05 and a low of Rs 348.50 so far during the day. The stock hit a 52-week high of Rs 456.10 on 8 January 2018. The stock hit a 52-week low of Rs 330.65 on 26 October 2018.
Zydus Cadila has received the final approval from the US Food and Drug Administration (USFDA) to market Clindamycin Phosphate and Benzoyl Peroxide Gel, (US RLD - DUAC Gel), 1.2%/5%. It will be manufactured at the group's Topical manufacturing facility at Ahmedabad. This combination medication is used to treat a certain type of acne (inflammatory acne vulgaris). It helps to decrease the number of acne pimples. Clindamycin is an antibiotic that stops the growth of acne-causing bacteria. Benzoyl peroxide can also stop the growth of bacteria as well as reduce oil production in the skin. The group now has 242 approvals and has so far filed over 340 abbreviated new drug applications (ANDAs) since the commencement of the filing process in FY 2003-2004.
On a consolidated basis, net profit of Cadila Healthcare declined 17.05% to Rs 417.50 crore on 9.51% decline in net sales to Rs 2844.10 crore in Q2 September 2018 over Q2 September 2017.
Cadila Healthcare is an innovative, global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies.
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