Cadila Healthcare gains 0.11% to Rs 321.95 after the company said it received final approval from US drug regulator for Deferasirox tablets for oral suspension.
The company said that Zydus Cadila has received final approval from the United States Food & Drug Administration (USFDA) to market Deferasirox tablets for oral suspension in the strengths of 125 mg, 250 mg and 500 mg. The drug will be manufactured at the company's facility at Ahmedabad in Gujarat.
Deferasirox binds to iron and removes it from the bloodstream. It is used to treat iron overload caused by blood transfusions in adults and children who are at least 2 years old. It is also used to treat chronic iron overload syndrome caused by a genetic blood disorder (non-transfusion dependent thalassemia) in adults and children who are at least 10 years old.
At present, the group bagged 289 approvals and has filed over 386 Abbreviated New Drug Applications (ANDAs) since the commencement of the filing process in FY 2003-04 so far. The announcement was made after trading hours yesterday, 7 May 2020.
The company, on 2 May 2020, received tentative approval from the US-based drug regulator, USFDA to market Empagliflozin and Metformin Hydrochloride tablets, 5 mg/500 mg, 5 mg/1000 mg, 12.5 mg/500 mg, and 12.5 mg/1000 mg. A combination of 2 drugs: empagliflozin and metformin, this medication is used with a proper diet and exercise programme to control high blood sugar in people with type 2 diabetes. It will also be manufactured at the group's formulations manufacturing facility at SEZ, Ahmedabad in Gujarat.
On a consolidated basis, the drug maker's net profit tanked 26.54% to Rs 375.18 crore on a 0.52% rise in net sales to Rs 3,534.50 crore in Q3 December 2019 Q3 December 2018.
Cadila Healthcare is a pharmaceutical company based in India.
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