Zydus can launch ulcer drug in US, patent litigation settled
New Delhi : Zydus Cadila, an innovation-driven global pharmaceutical company, announced that the patent litigation relating to Allergan's DELZICOL (mesalamine) has been settled. As a result of the settlement, and if approved by FDA, its US subsidiary, Zydus Pharmaceuticals (USA) Inc., will be able to market its generic version of DELZICOL in the Unite States beginning of March 1, 2020, or earlier under certain circumstances.
Cadila Healthcare Ltd ended at Rs 395.25, down by Rs 4.35 or 1.09% from its previous closing of Rs 399.6 on the BSE.
The scrip opened at Rs 400 and touched a high and low of Rs 401.05 and Rs 391.95 respectively. A total of 442882(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 40463.43 crore.
The BSE group 'A' stock of face value Rs 1 touched a 52 week high of Rs 429.45 on 01-Nov-2016 and a 52 week low of Rs 295.5 on 18-Jan-2016. Last one week high and low of the scrip stood at Rs 414.6 and Rs 391.95 respectively.
The promoters holding in the company stood at 74.79 % while Institutions and Non-Institutions held 17.25 % and 7.96 % respectively.
The stock traded above its 50 DMA.