Cadila Health up 2% on agreement with Microbix

The company had signed a letter of intent with Microbix Biosystems, a biotechnology company commercialising novel technologies to market the Thrombolytic drug, Urokinase in the North America on January 6.

According to a release sent to exchanges in January, the market size for this drug in the US alone is expected to touch USD 400 million by 2020 between three indications pulmonary embolism, catheter clearance and catheter prophylaxis. The same active pharmaceutical ingredient can be used in new and even larger indications in oncology and ophthalmology.

Urokinase was first approved in the US in 1978 for pulmonary embolism (blockage in the arteries supplying blood to the lungs) and coronary occlusion (blockage in the vessels which carry blood in the heart).

At 11:03 hours IST, the share was trading at Rs 894, up 2.30% with volumes of 2,215 equity shares.

Market capitalisation of the company currently stands at Rs 18,304.52 crore.