USFDA clears Ahmedabad facility; Cadila Healthcare gains

Cadila Healthcare gained 2.33 per cent today after the company informed that United States Food and Drug Administration (USFDA) has successfully completed the inspection at its manufacturing facility in Ahmedabad with no observations.

In a BSE filing, the company said after the market hours on Tuesday that USFDA inspected the manufacturing facility of Alidac Pharmaceuticals, the company’s wholly-owned subsidiary, located in Ahmedabad’s Special Economic Zone (SEZ). It further added that the inspection was conducted from January 27 to February 4, 2020 and at the end of the inspection, no observation (483) was issued.

Cadila Healthcare ranks fourth in Indian pharmaceutical industry while, Alidac Pharmaceuticals manufactures and markets Novel Drug Delivery System (NDDS) of approved anti-cancer agents for global markets.

Meanwhile, Cadila Healthcare will declare its third quarter earnings today.

At 10.20 am on Wednesday, the stock of Cadila Healthcare Ltd is trading at Rs 270.20, up by 2.33 per cent or Rs 6.60 per share, against its previous close of Rs 264.05. Its 52-week high is recorded at Rs 352.30 and the 52-week low is Rs 206.45 on BSE.