Zydus Cadila records 52-week high on receiving USFDA approval

On Friday, the global pharmaceutical company, Zydus Cadila announced that it has received approval from USFDA to market mineral supplement tablets. Reacting to the announcement, the share rallied 6.63 per cent on BSE.

The group received its final consent by US Food & Drug Administration to market Potassium Chloride extended-release tablets. The medication will be available in the strengths of 10 mEq (750 mg) and 20 mEq (1500 mg). The drug provides a mineral supplement, which is used to treat or prevent low amounts of potassium in the blood.

The medication will be developed at the company’s formulation manufacturing facility at SEZ, Ahmedabad.

Zydus Cadila discovers, develops, manufactures, and markets a broad range of healthcare therapies and has 301 approvals. It has filed over 390 abbreviated new drug applications (ANDAs) since the commencement of the filing process in FY 2003-04.

Cadila Healthcare Limited today touched its new 52-week high at Rs 422.8. At 2.28 pm, the share was trading at Rs 412.75 with gains of 4.71 per cent on BSE. In comparison, S&P BSE Healthcare index was trading at 3.61 per cent.