Astrazeneca Pharma Rises After Launching Diabetes Drug

Astrazeneca Pharma India gained 0.96% to Rs 2,829 after the company said it has launched “QTERN” tablets in India for the treatment of diabetes.

Following the receipt of marketing authorization from the Drugs Controller General of India for fixed-dose combination (FDC) of Dapagliflozin 10mg + Saxagliptin 5mg film coated tablets (QTERN), AstraZeneca Pharma India has commenced the launch of QTERN in India.

QTERN is a prescription medicine that contains dapagliflozin and saxagliptin. QTERN is used with diet and exercise to improve blood sugar (glucose) control in adults with type 2 diabetes. The disclosure was made after market hours on Thursday, 20 February 2020.

The stock jumped 12.46% in the past one month. On the technical front, the stock’s RSI (relative strength index) stood at 58.922. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

On a standalone basis, Astrazeneca Pharma India’s net profit fell 8.2% to Rs 26.70 crore on a 4% rise in net sales to Rs 223.86 crore in Q3 December 2019 over Q3 December 2018.

AstraZeneca Pharma India is engaged in the discovery, development and commercialization of medicines for core areas of healthcare, including cardiovascular/metabolic disease, cancer and respiratory, inflammatory and autoimmune disease. The firm operates through two segments: healthcare and clinical trial.-Business Standard