scorecardresearch
Cadila Healthcare share price rises over 2% after USFDA clears Ahmedabad facility

Cadila Healthcare share price rises over 2% after USFDA clears Ahmedabad facility

Cadila Healthcare share price rose up to 2.52% to Rs 268.15 compared to the previous close of Rs 261.55 on BSE

The pharma firm said USFDA conducted an inspection of its facility located in Ahmedabad from December 16 to December 20, 2019 at the end of which no observation was issued The pharma firm said USFDA conducted an inspection of its facility located in Ahmedabad from December 16 to December 20, 2019 at the end of which no observation was issued

Cadila Healthcare share price rose in afternoon trade today after the pharma firm said USFDA issued no observation after inspection of the company's topical manufacturing facility. Cadila Healthcare share price rose up to 2.52% to Rs 268.15 compared to the previous close of Rs 261.55 on BSE. The large cap stock has gained 2.69% in two days.

However, it has fallen 23.45% since the beginning of this year and lost 22.83% during last one year. The pharma firm said USFDA conducted an inspection of its facility located in Ahmedabad from December 16 to December 20, 2019 at the end of which no observation was issued.

Issuance of no observation means the facility successfully cleared the inspection on all aspects. The stock hit an intraday high of Rs. 268.15 and intraday low of 258.9. For the quarter ended September 2019, Cadila Healthcare reported a 74.32 per cent decline in net profit at Rs 107.2 crore for the second quarter ended September 30. The company had posted a net profit of Rs 417.5 crore during the same period of previous fiscal.

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, it added.

By Aseem Thapliyal