Zydus announces settlement with Aptalis on CANASA

Cadila Healthcare, a global pharmaceuticals company and its subsidiary Zydus Pharmaceuticals Inc. (USA), announced on Monday that the company has settled a patent litigation relating to the Aptalis’s CANASA.

Aug 14, 2017 08:08 IST India Infoline News Service

Cadila Healthcare, a global pharmaceuticals company and its subsidiary Zydus Pharmaceuticals Inc. (USA), announced on Monday that the company has settled a patent litigation relating to the Aptalis’s CANASA.
 
As a result of the settlement, its US subsidiary, Zydus Pharmaceuticals will be able to market its generic version of CANASA in the United States beginning on June 13, 2019 or earlier under certain circumstances.
 
Zydus  Cadila previously received tentative approval from the USFDA to market its generic version of CANASA. CANASA is indicated to treat mildly to moderately active ulcerative colitis. Zydus Cadila’s generic product will be produced at the group’s tropical plant at Ahmedabad.
 
Meanwhile, the stock was trading lower by 0.10% at Rs 482 per share on BSE at 1346 hours.
  
Stock View:
 
Cadila Healthcare Ltd is currently trading at Rs 483, up by Rs 0.05 or 0.01% from its previous closing of Rs 482.95 on the BSE.
 
The scrip opened at Rs 475 and has touched a high and low of Rs 501 and Rs 475 respectively. So far 918826(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 49441.65 crore.
 
The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 558 on 12-Jun-2017 and a 52 week low of Rs 329.95 on 26-Dec-2016. Last one week high and low of the scrip stood at Rs 544.8 and Rs 436 respectively.
 
The promoters holding in the company stood at 74.79 % while Institutions and Non-Institutions held 17.42 % and 7.79 % respectively.
 
The stock is currently trading below its 50 DMA.

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