Cadila Healthcare rallied over 2 per cent on the news that the USFDA has completed the audit of companys wholly-owned subsidiary with no observations.
The scrip was up 2.14 per cent at Rs 356.10 at around 9.45 am whereas BSE Sensex rose 64 points, or 0.18 per cent, to 34,967.In a BSE filing, Cadila Healthcare said, The USFDA inspected the manufacturing facility of our wholly-owned subsidiary, Alidac Pharmaceuticals, located at Ahmedabad SEZ from May 28 to June 5, 2018.
At the end of the inspection, no observation (483) is issued.
The site manufactures oncology injectables for the regulated markets.The stock had hit 52-week high of Rs 558 on June 12, 2017 and 52-week low of Rs 341.65 on May 22, 2018.The company had recently reported 53.26 per cent jump in consolidated net profit at Rs 590.8 crore for the fourth quarter ended March 2018.
The figure was Rs 385.5 crore in the same quarter a year ago.Consolidated sales for the period under review stood at Rs 3,152.7 crore compared with Rs 2,452.7 crore in the previous fiscal.