Shares of the drugmaker Cadila Healthcare gained about 5% on Thursday after Zydus Cadila received final approval from the US health regulator to market antipsychotic Ziprasidone Hydrochloride capsules in the American market. The stock of Cadial healthcare rose as much as 5.09% to the day’s high of Rs 486.5 on BSE. The Nifty Pharma index gained 1.29% at 8,727.4 points and was the biggest gainer today led by the upsurge in Cadila shares. Other pharma shares which also advanced today are Divi’s Lab (up 2.66%), Sun Pharma (up 2.18%), Lupin (up 1.74%), Aurobindo Pharma (up 1.29%) and Wockhardt Pharma (up 1.27%).
The company has received the final approval from the United States Food and Drug Administration (USFDA) to market Ziprasidone Hydrochloride capsules in strengths of 20 mg, 40 mg, 60 mg, and 80 mg, Zyudus Cadila said in a statement. The drug is used to treat schizophrenia and the manic symptoms of bipolar disorder, it added.
The capsules will be manufactured at the group’s formulations manufacturing facility at the Pharma SEZ, Ahmedabad, Zydus Cadila said. The group now has more than 140 approvals and has so far filed over 300 Abbreviated New Drug Applications (ANDAs) since the commencement of the filing process, it added.
Meanwhile, Indian stock market opened higher on Wednesday tracking Asian stocks which edged up in the early trade today. BSE Sensex rose over 100 points to open at 31,673.44 points and NSE Nifty gained 29 points to open at 9,881.2 points. The buying in the shares of heavyweight companies Infosys, ITC, TCS, Sun Pharmaceuticals and Reliance Industries led the benchmark indices to trade in green. But, within minutes of trading both the benchmark indices pared early morning gains with the Sensex trading up 0.11% at 31,602.64 points and the broader Nifty 50 trading 0.15% higher at 9,867.45 points.