Cadila Healthcare rose 1.09% to Rs 348.50 at 9:22 IST on BSE after the company said it has received tentative approval from the US drug regulator to market Tofacitinib tablets, used for the treatment of rheumatoid arthritis.
The announcement was made on Saturday, 6 April 2019.Meanwhile, the S&P BSE Sensex was up 116.25 points, or 0.30% to 38,978.48.
On the BSE, 3467 shares were traded in the counter so far compared with average daily volumes of 56,000 shares in the past two weeks. The stock had hit a high of Rs 350.05 and a low of Rs 347 so far during the day. The stock hit a 52-week high of Rs 432.40 on 10 September 2018. The stock hit a 52-week low of Rs 306.35 on 15 February 2019.
Zydus Cadila has received the tentative approval from the US Food and Drug Administration (USFDA) to market Tofacitinib tablets (US RLD - Xeljanz Tablets), 5 mg. Tofacitinib is used alone or with other medications (such as methotrexate) to treat moderate to severe forms of rheumatoid arthritis. It helps to decrease pain, tenderness and swelling in the joints. It will be manufactured at the group's formulations manufacturing facility at Moraiya, Ahmedabad. The group now has 260 approvals and has so far filed over 350 ANDAs since the commencement of the filing process in FY 2003-2004.
On a consolidated basis, net profit of Cadila Healthcare declined 6% to Rs 510.70 crore on 10.58% rise in net sales to Rs 3516.10 crore in Q3 December 2018 over Q3 December 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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