Cadila Healthcare makes new 52-week high after extending JVA with Bayer PTE
Cadila Healthcare Limited announced today that it has signed an agreement to extend the tenure of the joint venture agreement (JVA) with Bayer (South East Asia) PTE Limited, one of the companies of Bayer Group, for a further period of two months.
Both companies had entered into an agreement on January 28, 2011. The purpose of entering into the JVA was to do marketing of pharmaceutical products.
Reacting to this, the company’s stock today increased by 6.71 per cent and made an intraday high of Rs 607.50 per share.
Cadila Healthcare is a pharmaceutical company with business encircling the entire value chain in the research, development, production, marketing & distribution of pharmaceutical products.
The company stands third in the respiratory market. It has more than 100 brands in the therapeutic area of asthma, COPD, idiopathic pulmonary fibrosis (IPF), and cough & cold.
According to BSE data, the stock traded at a P/E multiple of 35.74 and a price-to-book ratio of 4.81. The stock has a 52-week high and a 52-week low of Rs 607.50 and Rs 318.10, respectively.
At 3.03 pm, the stock of the company was trading at Rs 600.95, up by 5.56 per cent on BSE.