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Cadila Healthcare gains after receiving USFDA approval for anti viral drug

Cadila Healthcare gains after receiving USFDA approval for anti viral drug

Feb 27,2017

The announcement was made during market hours today, 27 February 2017.

Meanwhile, the S&P BSE Sensex was down 22.92 points or 0.08% at 28,870.05.

On the BSE, 93,437 shares were traded on the counter so far as against the average daily volumes of 1.05 lakh shares in the past one quarter. The stock had hit a high of Rs 443 and a low of Rs 432.50 so far during the day. The stock had hit a record high of Rs 460 on 17 February 2017. The stock had hit a 52-week low of Rs 305 on 12 April 2016.

The stock had outperformed the market over the past one month till 23 February 2017, advancing 20.45% compared with the Sensexs 6.55% rise. The scrip had, however, underperformed the market over the past one quarter, gaining 9.69% as against the Sensexs 10.91% rise.

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

Cadila Healthcare announced that Nesher Pharmaceuticals, a subsidiary of Zydus Pharmaceuticals USA has received final approval from the United States Food & Drug Administration (USFDA) to market Oseltamivir Phosphate Capsules, USP in strengths of 30mg, 45mg and 75mg.

The drug will be produced at the Nesher Pharmaceuticals USA manufacturing facility located at St. Louis, MO, USA. It is an anti viral used in the prevention and treatment of influenza virus infection. The estimated sales of capsules was $382 million as per IMS December 2016 data.

The group has also received the final approval from the USFDA to market Linezolid Tablets USP, 600 mg. The drug is an anti-bacterial agent used to treat certain serious bacterial infections and will be produced at the groups formulations manufacturing facility in the Pharma SEZ in Ahmedabad.

Cadila Healthcares consolidated net profit fell 34.6% to Rs 281.60 crore on 0.8% decrease in net sales to Rs 2249.60 crore in Q3 December 2016 over Q3 December 2015.

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

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