Cadila stock touches 52 week high after gettting USFDA approval for two generic drugs
According to pharma analyst, the company would continue to witness jump in its stock prices as it is bullish on getting FDA approval for its ANDAs in US market.
By Vishal Dutta, ET Bureau | Updated:
AHMEDABAD: Cadila Healthcare Ltd, a group company of Zydus Cadila, witnessed jump in its stock prices after it received US drug regulator’s approval for two generic drugs. On Tuesday, Cadila’s stock touched 52 week high at Rs 955 on Bombay Stock Exchange.
As per US Food and Drug Administration ( USFDA) website, last week approvals for generic version of drug Levofloxacin and Tramadol Hydrochloride, Acetaminophen were given to Zydus Pharmaceuticals USA Inc, a subsidiary of Ahmedabad-based Zydus Cadila Group. Levofloxacin is an antibiotic drug and Japan’s Daiichi Pharmaceutical Co in the originator. While Johnson & Johnson is the originator of Ultracet.
In July, Zydus received USFDA approval for anti-psychotic drug Aripiprazole used for schizophrenia treatment. and in subsequent month the company concluded agreement for re-launch of KINLYTIC (Urokinase) in Northern American markets with Canadian biotech firm Microbix Biosystems Inc. KINLYTIC injection is used to dissolve blood clots that has formed in the lungs (pulmonary embolism).
According to pharma analyst, the company would continue to witness jump in its stock prices as it is bullish on getting FDA approval for its Abbreviated New Drug Application (ANDAs) in US market. On Tuesday, Cadila’s stock touched 52 week high at Rs 955 on BSE and closed at Rs 948.55. While on National Stock Exchange ( NSE), Cadila’s stock reached 52 week high at Rs 956.20 on Tuesday, closing at Rs 951.60 per share.
As per Zydus latest statement during the first quarter results, the company filed 9 ANDAs including two for injectible products, taking the cumulative number of US ANDA filings to 157. The company also filed 5 Drug Master Files (DMFs), taking the cumulative filing to 112 DMFs.
During the quarter, the company filed 11 new product dossiers and received 4 new product approvals for the European market, taking the cumulative approvals to 147 approvals. The company also filed 5 additional dossiers for the Brazilian market with the regulatory authority ANVISA and 3 additional dossiers with the regulatory authority COFEPRIS for Mexico.
As per US Food and Drug Administration ( USFDA) website, last week approvals for generic version of drug Levofloxacin and Tramadol Hydrochloride, Acetaminophen were given to Zydus Pharmaceuticals USA Inc, a subsidiary of Ahmedabad-based Zydus Cadila Group. Levofloxacin is an antibiotic drug and Japan’s Daiichi Pharmaceutical Co in the originator. While Johnson & Johnson is the originator of Ultracet.
In July, Zydus received USFDA approval for anti-psychotic drug Aripiprazole used for schizophrenia treatment. and in subsequent month the company concluded agreement for re-launch of KINLYTIC (Urokinase) in Northern American markets with Canadian biotech firm Microbix Biosystems Inc. KINLYTIC injection is used to dissolve blood clots that has formed in the lungs (pulmonary embolism).
According to pharma analyst, the company would continue to witness jump in its stock prices as it is bullish on getting FDA approval for its Abbreviated New Drug Application (ANDAs) in US market. On Tuesday, Cadila’s stock touched 52 week high at Rs 955 on BSE and closed at Rs 948.55. While on National Stock Exchange ( NSE), Cadila’s stock reached 52 week high at Rs 956.20 on Tuesday, closing at Rs 951.60 per share.
As per Zydus latest statement during the first quarter results, the company filed 9 ANDAs including two for injectible products, taking the cumulative number of US ANDA filings to 157. The company also filed 5 Drug Master Files (DMFs), taking the cumulative filing to 112 DMFs.
During the quarter, the company filed 11 new product dossiers and received 4 new product approvals for the European market, taking the cumulative approvals to 147 approvals. The company also filed 5 additional dossiers for the Brazilian market with the regulatory authority ANVISA and 3 additional dossiers with the regulatory authority COFEPRIS for Mexico.
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