The green signal for marketing Tofacitinib tablets has led to a surge in the company shares on the BSE.
Indian pharmaceutical company Cadila Healthcare has reportedly received a tentative approval from the U.S. FDA (Food & Drug Administration) for the marketing of its Tofacitinib tablets, that are consumed for the treatment of rheumatoid arthritis. According to familiar sources, Zydus Cadila gained the approval for 5mg Tofacitinib tablets.
For the record, Tofacitinib is deployed either alone or together with other medications like methotrexate, for treating moderate as well as severe forms of rheumatoid arthritis. The drug helps in decreasing pain, swelling and tenderness in the joints. It is slated to be manufactured at the company’s formulations manufacturing unit at Moraiya, Ahmedabad. The company so far has around 260 approvals and has filed more than 360 ANDAs (Abbreviated New Drug Applications) since the initiation of the filing process around FY 2003-2004.
According to authentic reports, on the BSE, approximately 3467 Cadila shares have so far been traded in the counter in comparison to the average daily volumes of 56,000 shares in the last two weeks. On a combined basis, the net profit of Cadila Healthcare fell sharply by about 6 percent to Rs. 510.70 crore, with an increase of around 10.58 percent in net sales to Rs. 3516.10 crore in the third quarter of December 2018.
As reported by Equity Bulls, the company also received a tentative approval from the US drug regulator recently for Lacosamide tablets in strengths ranging from 50mg, 100mg, 150 mg as well as 200mg. Lacosamide is an antiepileptic or anticonvulsant drug which is used for the prevention and control of seizures.
For the record, Cadila Healthcare, headquartered at Ahmedabad, is a global, innovative pharmaceutical company, that specializes in the discovery, development, manufacture and marketing of a wide array of healthcare therapies.