Mumbai: Cadila Healthcare, an Indian Pharmaceuticals has achieve a new benchmark in Pharmaceuticals industry by becoming third valuable listed pharmaceutical company in the country.
As per a recent Mint report, At the close of trade on Thursday, market capitalization of Cadila Healthcare was Rs46,406.25 crore. Its market capitalization had touched an all-time high of Rs 46,959.07 crore on Tuesday.
Cadila achieve this top position after getting the approval from USFDA in February for its Moraiya unit in Gujarat, which had received warning letter from the regulator in December 2015 due to violation of good manufacturing practices.
Cadila was founded in 1952 by Ramanbhai Patel (1925–2001), formerly a lecturer in the L.M. College of Pharmacy, and his business partner Indravadan Modi.
Sun Pharmaceuticals which was continue to be the most valuable company with market capitalization of Rs 1.66 trillion, followed by Lupin Ltd having a market capitalization of Rs64,726.77 crore, now is far behind the Cadila Healthcare.