Moneycontrol Bureau
Shares of Cadila Healthcare rallied 4.3 percent intraday Friday as the company started supplying drugs to US from its Ahmedabad facility.
Zydus Cadila said it has received approval from the US Food and Drug Administration (USFDA) to market Doxycycline capsules USP, 50 mg, 75 mg, and 100 mg. The drug falls in the anti-bacterials segment.
With this first approval, the group will now commence supplies to the US market from its formulation manufacturing facility located at the SEZ in Ahmedabad, it said. The group now has 102 approvals and has so far filed over 280 ANDAs since the commencement of the filing process in FY2003-04.
Cadila has USFDA approval for its Ahemdabad SEZ and Baddi facility while it received warning letters issued by the USFDA for Moraiya formulation and Ahmedabad API facility (Zyfine).
Analysts feel approval for Ahmedabad SEZ reduced risk to US sales.
At 14:34 hours IST, the scrip of Cadila Healthcare was quoting at Rs 327.50, up Rs 5.30, or 1.64 percent on the BSE.Posted by Sunil Shankar Matkar
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