Share price of Cadila Healthcare gained 1.7 percent intraday Friday after it received tentative approval from the USFDA.
Zydus Cadila has received the tentative approval from the USFDA (US Food and Drug Administration) to market Linagliptin and Metformin Hydrochloride Tablets (US RLD-Jentadueto@Tablets), 2.5 mg/500 mg, 2.5 mg/850 mg and 2.5 mg/ 1,000 mg.
It will be manufactured at the group's formulations manufacturing facility at SEZ, Ahmedabad. It is used along with diet and exercise to improve control of blood sugar levels in adults with type 2 diabetes mellitus, company said in press release.
The group now has 221 approvals and has so far filed over 330 ANDAs since the commencement of the filing process in FY 2003-04.
At 12:04 hrs Cadila Healthcare was quoting at Rs 378, up Rs 2.55, or 0.68 percent on the BSE.
The share touched its 52-week high Rs 515 and 52-week low Rs 332.85 on 02 November, 2017 and 16 August, 2018, respectively.
Currently, it is trading 26.6 percent below its 52-week high and 13.56 percent above its 52-week low.