Stock of Cadila Healthcare soared 9 per cent today after the drugmaker announced that Zydus Cadila received final approval from the USFDA to market candesartan cilexetil tablets used for treatment of hypertension. The scrip rose 8.95 per cent to an intra-day high of Rs 503.90 on the BSE. It had opened at Rs 465.85. A similar movement was witnessed on the NSE where the stock moved 8.93 per cent higher to Rs 504 during the intra- day trade. Cadila Healthcare is part of Zydus Cadila. In a regulatory filing to exchanges, Cadila Healthcare today said Zydus Cadila has received the final approval from the US Food and Drug Administration (USFDA) to market candesartan cilexetil tablets in strength of 4 mg, 8 mg, 16 mg and 32 mg.
The company will manufacture the drug at its formulation manufacturing facility in Moraiya in Ahmedabad. It has more than 140 approvals and has so far filed over 300 abbreviated new drug applications (ANDAs) since it commenced filings in 2003-04. At 1302 hours, Cadila Healthcare is trading at Rs 497.35 on the BSE, up 7.66 per cent from the previous close.
The stock was up 7.9 per cent at Rs 499.20 on the NSE.