Cadila Healthcare gets USFDA approval for Diabetes Tablets , Stock trades volatile

Global pharmaceutical company, Zydus Cadila has received the tentative approval from USFDA for Sitagliptin. 

The US Food and Drug Administration has given a tentative approval to Zydus Cadila for Sitagliptin Tablets USP, 25mg, 50mg and 100mg. The manufacturing unit for the tablet would be at the company’s formulations manufacturing facility at SEZ in Ahmedabad. Sitagliptin falls under the class of medications called dipeptidyl peptidase—4 (DPP-4) inhibitors. The said medication is used along with diet and exercise and sometimes with other medications to lower blood sugar levels with type 2 diabetes.

Shares of Cadila Healthcare on Tuesday opened at Rs. 442.40 per share, up by 0.47 per cent on the BSE. The shares reached its intraday high of Rs. 426.50 per share and intraday low of Rs. 414.40 per share on the BSE.

At 12:25 hours, the shares of the company was trading at Rs. 418.50, down by 0.55 per cent.  While the Indian benchmark  Indices were both in red , BSE Sensex  was at 37,841.23 level, down by 0.21 and Nifty50 was at 11,414.65 level down by 0.21 per cent.