Stock of Cadila Healthcare jumped seven per cent today after the drugmaker announced that Zydus Cadila received approval from the USFDA to market candesartan cilexetil tablets used for treatment of hypertension.
The scrip settled 7.02 per cent higher at Rs 494.95 on the BSE. In the intra-day trade, the stock climbed 8.95 per cent to the day's high of Rs 503.90 on the BSE.
A similar movement was witnessed on the NSE where the stock moved up 6.56 per cent to close at Rs 493. During the trading session, the stock had touched a high of Rs 504 and a low of Rs 464.60.
At the end of trading session, the company's market capitalisation stood at Rs 50,670.14 crore on the BSE.
Cadila Healthcare is listed entity of Zydus Cadila.
Apart from Cadila Healthcare, pharma stocks such as Sun Pharmaceuticals and Lupin too gained on the BSE.
Shares of Sun Pharmaceutical Industries went up by 3.01 per cent to close Rs 483.30 and Lupin grew by 3.87 per cent to settle at Rs 991.75.
In a regulatory filing to exchanges, Cadila Healthcare today said Zydus Cadila has received the final approval from the US Food and Drug Administration (USFDA) to market candesartan cilexetil tablets in strength of 4 mg, 8 mg, 16 mg and 32 mg.
The company will manufacture the drug at its formulation manufacturing facility in Moraiya in Ahmedabad.
It has more than 140 approvals and has so far filed over 300 abbreviated new drug applications (ANDAs) since it commenced filings in 2003-04.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)