Moneycontrol
Last Updated : Jul 11, 2018 11:55 AM IST | Source: Moneycontrol.com

Cadila Healthcare loses 2% on report of US FDA issuing observations to Cadila-Hospira JV unit

The company’s joint venture with Hospira has received two observations from the US Food and Drug Administration, CNBC-TV18 reported, quoting sources.

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Shares of Cadila Healthcare lost around 2 percent as investors turned cautious on its unit getting two observations from the US drug regulator.

The stock touched an intraday high of Rs 383.55 and an intraday low of Rs 373.65.

The company’s joint venture with Hospira has received two observations from the US Food and Drug Administration, CNBC-TV18 reported, quoting sources.

The regulator had audited the unit between April 5 and 12, 2018.

The company was in the news recently after its group company Zydus received tentative approval from the US FDA for Deferasirox.

Deferasirox is an oral iron chelator. Its main use is to reduce chronic iron overload in patients who are receiving long-term blood transfusions for conditions such as beta-thalassemia and other chronic anemias.

The stock has gained around 2 percent in the past one month, while in the past three days it fell 2 percent. At 11:50 hrs Cadila Healthcare was quoting at Rs 374.40, down Rs 7.70, or 2.02 percent, on the BSE.
First Published on Jul 11, 2018 11:55 am
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