Stock of Cadila Healthcare soared

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9 per cent today after the drugmaker announced that Zydus

Cadila received final approval from the USFDA to market

candesartan cilexetil tablets used for treatment of

hypertension.

The scrip rose 8.95 per cent to an intra-day high of Rs

503.90 on the BSE. It had opened at Rs 465.85.

A similar movement was witnessed on the NSE where the

stock moved 8.93 per cent higher to Rs 504 during the intra-

day trade.

Cadila Healthcare is part of Zydus Cadila.

In a regulatory filing to exchanges, Cadila Healthcare

today said Zydus Cadila has received the final approval from

the US Food and Drug Administration (USFDA) to market

candesartan cilexetil tablets in strength of 4 mg, 8 mg, 16 mg

and 32 mg.

The company will manufacture the drug at its formulation

manufacturing facility in Moraiya in Ahmedabad.

It has more than 140 approvals and has so far filed over

300 abbreviated new drug applications (ANDAs) since it

commenced filings in 2003-04.

At 1302 hours, Cadila Healthcare is trading at Rs 497.35

on the BSE, up 7.66 per cent from the previous close. The

stock was up 7.9 per cent at Rs 499.20 on the NSE.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)