Cadila Healthcare rose 3.42% to Rs 960 at 14:20 IST on BSE after the company said that the Zydus Group will be presenting data on its molecule ZYDPLA1, a novel compound in the Gliptin class of anti-diabetic agents.
The announcement was made during market hours today, 9 June 2014.
Meanwhile, the S&P BSE Sensex was up 172.98 points or 0.68% at 25,569.44.
On BSE, so far 14,000 shares were traded in the counter as against average daily volume of 16,615 shares in the past one quarter.
The stock hit a high of Rs 960 and a low of Rs 928.60 so far during the day.
The stock had underperformed the market over the past one month till 6 June 2014, sliding 7.71% compared with the Sensex's 12.83% rise. The scrip had also underperformed the market in past one quarter, declining 7.95% as against Sensex's 18.05% rise.
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Cadila Healthcare said that the Zydus Group will be presenting data on its molecule ZYDPLA1, a novel compound in the Gliptin class of anti-diabetic agents during the joint meeting of the International Society of Endocrinology and the Endocrine Society to be held from June 21-24, 2014 in Chicago, Illinois.
Mr. Pankaj R. Patel, CMD, Zydus said, "Currently, all available DPP-4 inhibitors are dosed once-daily. ZYDPLA1 with a once-a-week dosing regimen would provide diabetic patients with a more convenient treatment alternative. ZYDPLA1 will offer sustained action, which will result in an improved efficacy profile".
Cadila Healthcare's consolidated net profit declined 8.7% to Rs 239.19 crore on 22.4% growth in net sales to Rs 1916.33 crore in Q4 March 2014 over Q4 March 2013.
Cadila Healthcare is a global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies.
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