Cadila in pink of health after USFDA nod for hypertension drug

Cadila Healthcare jumped 7.57% to Rs 497.50 at 14:04 IST on BSE after the company announced that it has received final approval from US drug regulator to market Candesartan Cilexetil Tablets USP 4 mg, 8 mg, 16 mg and 32 mg.

The announcement was made during market hours today, 24 August 2017.

Meanwhile, the S&P BSE Sensex was up 36.34 points or 0.12% at 31,604.35

On the BSE, 2.69 lakh shares were traded on the counter so far as against the average daily volumes of 1.45 lakh shares in the past one quarter. The stock had hit a high of Rs 503.90 and a low of Rs 465.75 so far during the day. The stock had hit a record high of Rs 558 on 12 June 2017 and a 52-week low of Rs 329.95 on 26 December 2016.

 

The stock had underperformed the market over the past one month till 23 August 2017, falling 15.03% compared with 1.44% decline in the Sensex. The scrip, however, outperformed the market in past one quarter, rising 8.36% as against Sensex's 3.96% rise. The scrip had outperformed the market in past one year, surging 22.81% as against Sensex's 12.78% rise.

The large-cap company has equity capital of Rs 102.37 crore. Face value per share is Re 1.

Cadila Healthcare said that the company has received final approval from the USFDA to market Candesartan Cilexetil tablets USP 4 mg, 8 mg, 16 mg and 32 mg. The drug is used to treat high blood pressure (hypertension) in adults and will be manufactured at the group's formulations manufacturing facility at Moraiya, Ahmedabad.

The group has now more than 140 approvals and has so far filed over 300 ANDAs since the commencement of the filing process in FY2003-04.

Cadila Healthcare's consolidated net profit fell 65.26% to Rs 138.40 crore on 3.64% fall in net sales to Rs 2135.70 crore in Q1 June 2017 over Q1 June 2016.

Cadila Healthcare is an innovative, global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies.

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