Cadila Healthcare gains after Zydus gets USFDA approval for skin ointment



Cadila Healthcare, the Ahmedabad-based drugmaker's stock  rose as much as 1.66%, the most since October 27, to Rs 498 after it received final approval from the US drug regulator to market Clobetasol Propionate ointment, the company said in a stock exchange filing.

The drug is used to treat variety of skin conditions like eczema, dermatitis and allergies etc. and it will be manufactured at its Ahmedabad facility.

Cadila Healthcare Ltd is currently trading at Rs 494.8, up by Rs 3.4 or 0.69% from its previous closing of Rs 491.4 on the BSE. The scrip opened at Rs 497 and has touched a high and low of Rs 498.4 and Rs 490.45 respectively. The stock is currently trading above its 100 DMA.

Cadila Healthcare is a fully integrated, pharmaceutical company with strong presence in the formulations and CRAMS businesses globally. Its formulations business spans India, US, Europe and emerging markets (mainly Brazil and South Africa). The company derived 34% and 41% revenues from India and the US, respectively, in FY17.


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