AstraZeneca India falls 0.6% despite a new CFO and nod to drug imports

AstraZeneca Pharma India shares surged 39.29 percent over the past six months.

The Astrazeneca Pharma India stock price fell 0.6 percent to Rs 4,476.10 on October 3, days after the company appointed a new CFO and received permission to import a drug for breathing difficulty in children.

As of 9.45am, shares of Astrazeneca Pharma India were trading lower by 0.12 percent at Rs 4,497.8 per equity share on the NSE.

Bhavana Agrawal has taken over as the chief financial officer with effect from October 1 after Rajesh Marwaha retired on September 30.

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Agrawal has previously worked with GE, where she was the CFO ‐ Services business at GE Healthcare for Middle East, Africa and Russia.

AstraZeneca received the CDSCO approval to import Palivizumab. The drug is used for the prevention of serious lower respiratory tract disease requiring hospitalisation caused by respiratory syncytial virus (RSV) in children at high risk for RSV disease.

Shareholding and stock performance

According to the June quarter shareholding, the largest shareholders in the company are the promoters who hold a 75 percent stake in the firm. The public owns 20.4 percent of the pharma player, with FIIs and DIIs holding 2.7 percent and 1.9 percent respectively. Of the DIIs, mutual funds own 1.76 percent as of 30 June.

AstraZeneca Pharma India shares surged 44.39 percent over the past year, while jumping 39.29 percent over the past six months. In one month, the stock price of the pharma giant has added 5.05 percent.

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