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Cadila Healthcare shares jump 9% on USFDA nod for hypertension drug

LiveMint logoLiveMint 24-08-2017 PTI

New Delhi: Stock of Cadila Healthcare soared 9% on after the drugmaker announced that Zydus Cadila received final approval from the USFDA to market candesartan cilexetil tablets used for the treatment of hypertension.

The scrip rose 8.95% to an intra-day high of Rs503.90 on the BSE. It had opened at Rs465.85.

A similar movement was witnessed on the NSE where the stock moved 8.93% higher to Rs504 during the intra- day trade.

Cadila Healthcare is part of Zydus Cadila.

In a regulatory filing to exchanges, Cadila Healthcare on Thursday 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 1.02pm, Cadila Healthcare is trading at Rs497.35 on the BSE, up 7.66% from the previous close. The stock was up 7.9% at Rs499.20 on the NSE.

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