Cadila Healthcare share price rose over 17% intra day today a day after it received clearance for Perphenazine tablets from the US drug regulator. Share price of Cadilla closed 12% or 37 points higher at Rs 349.95 against previous close of Rs 312.50.
Earlier, the stock rose up to Rs 366.55 , its fresh 52 week high gaining 17.3%. It opened with a gain of 10% at Rs 343.75 on BSE. Cadila Healthcare's market capitalisation rose to Rs 35,825 crore on BSE.
Total 14.18 lakh shares changed hands amounting to turnover of Rs 49.65 crore.
The stock has gained 37.67% since the beginning of this year and 2.09% during the last one year.
"Zydus Cadila has received final approval from the USFDA to market Perphenazine Tablets USP, 2 mg, 4 mg, 8 mg and 16 mg," the company said in a release.
This medication is for the treatment of schizophrenia and for the control of severe nausea and vomiting in adults. The drug will be manufactured at the group's manufacturing facility at Baddi.
The group now has 284 approvals and has so far filed over 386 ANDAs since the commencement of the filing process in FY 2003-04, said the release.
In a separate development, the pharma firm told the bourses that they had launched a fast tracked programme to develop vaccine to cure coronavirus infection.
"The testing of the vaccine for coronavirus is being carried out on the animals. After successful results, various clinical trials will be carried out on humans," Cadila said.