US FDA approval to Zydus Cadila - Angel Broking

Mr. Yash Gupta, Equity Research Associate, Angel Broking Ltd

Zydus Cadila has received tentative approval from the USFDA to market Palbociclib Capsules, (US RLD: Ibrance Capsules) in the strengths of 75 mg, 100 mg, and 125 mg. Palbociclib is an anti-cancer medicine that interferes with the growth and spread of cancer cells in the body. It is used in adults to treat hormone receptor (HR)-positive, human epidermal growth factor receptor 2 (HER2)-negative breast cancer that has spread to other parts of the body (metastatic) in combination with an aromatase inhibitor as the first hormonal based therapy in postmenopausal women or in men, or fulvestrant with disease progression following hormonal therapy. The drug will be manufactured at the manufacturing facility at the SEZ, Ahmedabad. This is a positive development for Zydus Cadila.

Shares of CADILA HEALTHCARE LTD. was last trading in BSE at Rs.383.9 as compared to the previous close of Rs. 393.25. The total number of shares traded during the day was 163187 in over 3235 trades.

The stock hit an intraday high of Rs. 395.95 and intraday low of 379.05. The net turnover during the day was Rs. 62964527.

Source : Equity Bulls

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