Cadila gets tentative approval for Esomeprazole capsules

Zydus Cadila today informed the bourses that it has received tentative USFDA approval to market Esomeprazole magnesium delayed-release capsules.

These tablets are used to treat certain stomach and esophagus problems such as acid reflux, ulcers, etc.

As on today, the group has 247 approvals and has so far filed over 330 ANDAs since the commencement of the filing process.

The company’s FY18 revenue mix comprises of US formulations (50 per cent), India formulations (29 per cent), EMB formulations (6 per cent), animal health (4 per cent), wellness (4 per cent), APIs (3 per cent), alliances (2 per cent) and Europe formulations (2 per cent).

During the recently concluded quarter Q2FY19, the company has witnessed 8 per cent yoy decline in its revenue. Also, the bottomline has declined by 18 per cent on a yoy basis.

On Monday, the stock of Cadila Healthcare rose by 1 per cent and made an intra-day high of Rs 351.70 on the BSE. At 15:17 hours, the stock was trading around Rs 344.35 on the BSE. The stock had hit its 52-week high of Rs 450.55 on January 19, 2018, and 52-week low of Rs. 330.65 on October 26, 2018, on the BSE.