Cadila Healthcare surges 7% on receiving USFDA approval for levofloxacin injection

NEW DELHI: Shares of Cadila Healthcare climbed over 7 per cent on Friday after the company informed stock exchanges that it has received final approval from USFDA to market levofloxacin injection.

Levofloxacin injection is used in treating bacterial infections.

Following the announcement, the stock climbed 7.18 per cent to hit a high of Rs 504.8 on BSE, eventually closing at Rs 494.55, up 5.01 per cent.

The company told BSE that Levofloxacin will be produced at manufacturing facility at Moraiya, Ahmedabad.

“This is significant as it makes the beginning of the approval process for filing made from Moraiya manufacturing plant after successfully completing the USFDA audit on February 6-15 with zero 483 observations,” the company said.

Earlier this week, the company received final approval from USFDA to market oral drug Felbamate tablets, which is used to treat epilepsy.

The drugmaker has over 115 approvals and 300 ANDAs since the commencement of the filing process in FY04.