Shares of Cadila Healthcare jumped over four percent intraday on November 18 after Zydus Cadila received tentative approval from the US Food and Drug Administration (USFDA) to market Apremilast tablets in multiple strengths (10mg, 20mg and 30mg).
Zydus Cadila announced the second Phase III DREAM-D trials of Desidustat, an Investigational New Drug (IND) targeted at treating anemia in dialysis dependent CKD patients, the company said in a filing to the exchanges.
"Based on the positive proof-of-concept established in the Phase II clinical trials, we are committed to developing this novel drug, Desidustat that can benefit millions of CKD patients. We believe that Desidustat has the potential to provide an oral, safer alternative to the currently available therapy which is in an injectable form," said Pankaj R Patel, Chairman, Zydus Group.
The stock gained over eight percent in the last three days with the stock quoting at Rs 244.60, up Rs 10.25, or 4.37 percent. It has touched an intraday high of Rs 246.75 and an intraday low of Rs 236.65.
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