Cadila Healthcare gains on tentative approval for Deferasirox tablets

Zydus Cadila Healthcare Limited received a tentative approval from USFDA for oral suspension Deferasirox (Exjade) tablets in the strengths of 125 mg, 250 mg and 500 mg to treat high levels of iron in the body. The stock gained 2 per cent on Monday.

The medication will treat high iron levels in the body which is a result of multiple blood transfusions. The tablet can also be used by people who have certain blood disorder and do not require blood transfusions. The tablets will be manufactured at the company's facility in Ahmedabad.

Sales for Deferasirox Tablets is forecast at US$150.3 million, said the company's filing.

The share price of the company reached intraday high of Rs. 395 per share on the BSE and an intraday low of Rs. 384 per share. The 52-week high of the share is recorded at Rs. 554.20 and 52-week low at Rs. 341.65 per share on the BSE.

At 11:26, the share was trading at 388.75 per share, up by 7.05 points or 1.85 per cent. The BSE Sensex was trading at 35,852.45 level up by 0.55 per cent and Nifty50 at 10,828.80 level, up by 0.52 per cent.