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Cadila Healthcare gets USFDA nod for fingolimod capsules, verapamil hydrochloride injection
16-Oct-20   11:29 Hrs IST

Shares of Cadila Healthcare gained 2.26% to Rs 425. The stock hovered in a range of Rs 429.60 and 412 so far during the day.

The company has received final approval from the US Food and Drug Administration (USFDA) to market fingolimod capsules, 0.5mg. Fingolimod is an immunomodulating drug, indicated for the treatment of relapsing forms of multiple sclerosis (MS). The drug will be manufactured at the group's formulation manufacturing facility at the SEZ, Ahmedabad.

The company has also received the final approval from the USFDA to market verapamil hydrochloride injection USP, 5 mg/2 mL (2.5 mg/mL) and 10 mg/4 mL (2.5 mg/mL), single-dose vials. Verapamil injection is used to rapidly or temporarily restore normal heartbeats in people with certain heart rhythm disorders. The injections will be manufactured at the company's manufacturing facility at Jarod, near Vadodara (formerly known as Liva Pharmaceuticals).

Cadila Healthcare is an innovative, global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies.

On a consolidated basis, the company's net profit surged 49.53% to Rs 454 crore on 4.20% rise in revenue from operations to Rs 3,549.30 crore in Q1 June 2020 over Q1 June 2019.

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