Zydus Cadila gets USFDA nod to market drug to treat excess iron levels in human blood

AHMEDABAD | MUMBAI | RAJKOT – In a press release submitted to the Indian Exchanges on Tuesday, Ahmedabad headquartered and Pankaj Patel owned Cadila Healthcare (Zydus Cadila Group) said of having got US Food and Drugs Administration nod to market drug to treat excess iron levels in human blood.

Zydus Cadila has received the tentative approval from the USFDA to market Deferasirox Tablets, 90 mg, 180 mg, and 360 mg (US RLD — Exjade Tablets), the statement said.


It is used to treat ongoing high levels of iron in the body caused by multiple blood transfusions.

It is also used to treat high levels of iron in people with a certain blood disorder who do not require blood transfusions (non – transfusion – dependent thalassemia).

It will be manufactured at the group’s formulations manufacturing facility at SEZ, Ahmedabad.

The group now has 231 approvals and has so far filed over 340 ANDAs since the commencement of the filing process in FY 2003—04.


IMPACT ON SHARE PRICE

However, the immediately after the announcement hit the exchange, share price of company exhibited a slight downward spike and failed to woo the investors & traders.

Immediately after taking a downward spike the company share price improved a little and finally nosedived to continue trading in RED Zone.

Finally the company shares ended on NEGATIVE counters, as the trading session ended on the Indian Bourses, on Tuesday.


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