Shares of Cadila Healthcare gained 2 percent intraday Tuesday as it has received approval from USFDA to market Entecavir tablets.
Zydus Cadila has received the final approval from the United States of Food & Drug Administration (USFDA) to market Entecavir Tablets in the strengths of 0.5 mg and 1 mg.
The drug is used in the treatment of Hepatitis B virus infection and will be produced at the group's formulations manufacturing facility at the pharma SEZ in Ahmedabad.
According to IMS MAT April data, the estimated sale for Entecavir tablets is USD 166.3 million.
The group now has more than 120 approvals and has so far filed over 300 ANDAs since the commencement of the filing process in FY 2003-04.
The company in its board meeting held on June 26 had approved raising up to Rs 18500 crore through various fund raising options.
The board has approved to raise Rs 10000 crore via issue of equity shares / convertible bonds / debentures through qualified institutional placement / GDR / ADR.
The board also approved issuing secured/unsecured redeemable non-convertible debentures/foreign currency bonds on private placement basis for an amount up to Rs 3500 crore in financial year 2017-18.
The company will issue foreign currency bonds/foreign currency convertible bonds for an amount up to Rs 5000 crore.
At 12:06 hrs Cadila Healthcare was quoting at Rs 529.50, up Rs 4.40, or 0.84 percent on the BSE.
Posted by Rakesh Patil
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