Cadila Healthcare rose 0.96% to Rs 385.60 after the company said it received final approval from the US drug regulator to market Midodrine Hydrochloride tablets in multiple strengths.
The drug is used for certain patients who have symptoms of low blood pressure when standing. This condition is also known as orthostatic hypotension.The drug will be manufactured at the group's formulation manufacturing facility at SEZ, Ahmedabad. The group now has 298 approvals and has so far filed over 390 ANDAs since the commencement of the filing process in FY04. The announcement was made during market hours today, 3 September 2020.
On a consolidated basis, Cadila Healthcare's net profit rose 49.3% to Rs 469.90 crore on 4.2% increase in net sales to Rs 3,549.30 crore in Q1 June 2020 over Q1 June 2019.
Cadila Healthcare is a global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies.
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