Cadilla Healthcare on a new high

Cadilla Healthcare has been on a roll since the beginning of June.

It had hit a new high on 2nd June after it unit, Zydus Cadila received final approval from the US Food & Drug Administration to market Levofloxacin injection, used in the treatment of bacterial infections. At that time itself, the company had said that this was the beginning of approval process for filings made from this Ahmedabad factory which had completed the USFDA audit and had got clearance with zero observations.

Yesterday, it received another FDA approval to market mesalamine tablets used for the treatment of ulcerative colitis in the US markets. Zydus Cadila was the first to file an Abbreviated New Drug Application (ANDA) for the generic version of Lialda (mesalamine). This drug too will be made at its Moraiya facility in Ahmedabad.

The Gujarat-based group has more than 115 approvals and has filed over 300 abbreviated new drug applications (ANDAs) since it commenced filings in 2003-04.

Shares of Cadila Healthcare, the group’s listed entity, hit a new high yesterday at Rs.510 and today too, it hit a new high at Rs.539.40.