Cadila Healthcare surges on bagging USFDA approval

Pharma major Zydus Cadila surged by over 3 per cent on the bourses on Thursday as the company bagged the final approval from the US Food and Drug Administration (USFDA) for marketing Methylprednisolone Cinacalcet Hydrochloride tablets.

The Methylprednisolone tablets as well as the Cinacalcet Hydrochloride tablets are going to be manufactured at the company's formulations manufacturing facility at Moraiya, Ahmedabad and SEZ, Ahmedabad. The Cadila group now has 185 approvals after this approval from USFDA.

The company posted an intraday high of Rs. 414 per share and an intraday low of Rs. 403.35 per share on BSE on Thursday. The stock had touched its 52-week high of Rs. 558 per share on June 12, 2017 and its 52-week low of Rs. 361.45 per share on March 23, 2018 on BSE, respectively.

The company had posted nearly 198.73 per cent decline in its net profit at Rs 661.90 crore in the third quarter of the fiscal year 2018 on a year on year basis.  

On Thursday, Cadila Healthcare Ltd. closed at Rs 409.35, up by Rs 7.15 per share or 1.78 per cent, while, S&P BSE Sensex ended at 34,713.60 level, up by 212.35 or 0.62 per cent.