Cadila Healthcare beats Lupin to become 2nd most valued pharma company in India
New Delhi: Shares of Cadila Healthcare surged nearly 10 per cent, helping the company overtake Lupin to become the second most valued pharma firm in terms of market valuation.
The stock jumped 9.55 per cent to settle at Rs 537.25 on BSE. Intra-day, it soared 10.60 per cent to Rs 542.40 -- its 52-week high.
On NSE, shares of the company zoomed 9.68 per cent to close at Rs 536.90.
Led by the sharp surge in the stock, the companys market valuation rose by Rs 4,796.57 crore to Rs 55,000.57 crore. With this market valuation, Cadila is ahead of Lupin that commands a m-cap of Rs 51,990.80 crore.
Sun Pharma is the most valued pharma company with a market valuation of Rs 1,22,636.71 crore.
On the volume front, 12.11 lakh shares of Cadila were traded on BSE and over 95 lakh shares changed hands on NSE during the day.
Drug firm Zydus Cadila said it has received the US health regulators nod to market mesalamine tablets, used for the treatment of ulcerative colitis.
Zydus Cadila was the first to file an Abbreviated New Drug Application (ANDA) for the generic version of Lialda (mesalamine).
The company will manufacture the product at its Moraiya facility in Ahmedabad.
Cadila Healthcare is the group firm of Zydus Cadila.