Cadila Healthcare stock trades lower even after USFDA nod for blood pressure drug

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The drug will be manufactured at the group’s formulation facility in Ahmedabad.

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Cadila Healthcare share price fell intraday on February 19 even after the pharma firm received final approval from the US Food and Drug Administration (FDA) to market droxidopa capsules for treating low blood pressure that causes severe dizziness.

Droxidopa, which will be available in 100 mg, 200 mg, and 300 mg, works by narrowing the blood vessels and increasing blood pressure. It is indicated for use in people with conditions of the nervous system that can cause low blood pressure (such as Parkinson’s disease, multiple system atrophy, autonomic failure, and others).

The drug will be manufactured at Cadila’s formulation manufacturing facility in Ahmedabad.

The group now has 312 approvals and has so far filed over 400 ANDAs since the commencement of the filing process in FY 2003-04.

According to research house CLSA, the strong earnings momentum has meant an upgrade for the second successive quarter. It prefers Sun Pharma, Cadila & Cipla and is negative on Lupin & Biocon, CNBC-TV18 reported.

At 1116 hours, Cadila Healthcare was quoting at Rs 460.50, down Rs 7.15, or 1.53 percent, on the BSE.

cadila

The share touched its 52-week high of Rs 509.35 on January 15, 2021 and a 52-week low of Rs 212.70 on March 13, 2020. It is trading 9.59 percent below its 52-week high and 116.5 percent above its 52-week low.

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