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Cadila Healthcare share price rises over 2% on USFDA nod to market lsosorbide Dinitrate tablets

Cadila Healthcare share price has lost 29% in one year and fallen 27% since the beginning of this year

twitter-logoBusinessToday.In | November 21, 2019 | Updated 15:14 IST
Cadila Healthcare share price rises over 2% on USFDA nod to market lsosorbide Dinitrate tablets
Cadila Healthcare share has gained 13.29% in last six days

Cadila Healthcare share price rose in trade today after the firm said its parent Zydus Cadila has received the final approval from the USFDA to market lsosorbide Dinitrate Tablets. Cadila Healthcare share has gained 13.29% in last six days.

It rose up to 2.69% to Rs 255.75 on BSE. Cadila Healthcare share price has lost 29% in one year and fallen 27% since the beginning of this year.

Cadila Healthcare said, "Zydus Cadila has received the final approval from the USFDA to market lsosorbide Dinitrate Tablets USP (US RLD - Isordil Tablet) in the strengths of 10 mg, 20 mg, 30 mg and 40 mg. The drug is used to prevent attacks of chest pain (angina). lt dilates (widens) blood vessels, making it easier for blood to flow through them and easier for the heart to pump. It will be manufactured at the group's formulations manufacturing facility at Baddi.

The group also received the final approval for Desonide Cream (US RLD - Desonide Cream), 0.05%. The drug is a mild corticosteroid, used to treat a variety of skin conditions (e.g., eczema, dermatitis, allergies, rash) to reduce swelling, itching and redness that can occur in these types of conditions. It will be manufactured at the group's Topical manufacturing facility at Ahmedabad."

Cadila Healthcare said, the group now has 278 approvals and has so far filed over 330 ANDAs since the commencement of the filing process in FY 2003-04.

In the second quarter of this fiscal, the firm reported a 74.32 per cent decline in net profit at Rs 107.2 crore in Q2  against Rs 417.5 crore net profit during the same period of previous fiscal.

Net profit during the quarter includes an impairment charge of Rs 268 crore towards Levorphanol intangibles on account of entry of a new competitor.

Total revenue from operations during the quarter under review stood at Rs 3,393.5 crore as against Rs 2,991.6 crore in the year-ago period.

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