Zydus Cadilla - USFDA approval for Fingolimod - Angel Broking

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

"Zydus Cadila received final approval from the USFDA to market Fingolimod Capsules, 0.5 mg (US RLD: Gilenya® Capsules). Fingolimod is an immunomodulating drug. It is a sphingosine 1-phosphate receptor modulator indicated for the treatment of relapsing forms of multiple sclerosis (MS). The drug will be manufactured at the group's formulation manufacturing facility at the SEZ, Ahmedabad. The Company has also received the final approval from the USFDA to market Verapamil Hydrochloride Injection USP, 5 mg/2 mL (2.5 mg/mL) and 10 mg/4 mL (2.5 mg/mL), Single-Dose Vials(US RLD: Isoptin Injection). The injections will be manufactured at the company's manufacturing facility at Jarod, near Vadodara (formerly known as Liva Pharmaceuticals). Verapamil injection is used to rapidly or temporarily restore normal heartbeats in people with certain heart rhythm disorders. This is a very positive development for the company."

Shares of CADILA HEALTHCARE LTD. was last trading in BSE at Rs.430.55 as compared to the previous close of Rs. 415.6. The total number of shares traded during the day was 166413 in over 3239 trades.

The stock hit an intraday high of Rs. 432.2 and intraday low of 412. The net turnover during the day was Rs. 70759142.

Source : Equity Bulls

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