Cadila Healthcare Gains 4% On USFDA Approval For Cholesterol-Lowering Drug

Cadila Healthcare rallied 4 percent intraday on October 9 after getting the US health regulator’s nod for a cholesterol-lowering drug.

“Zydus Cadila has received the final approval from the USFDA to market Colesevelam Hydrochloride tablets, (US RLD – Welchol), which is available in 625 mg strength,” the company said in a BSE filing.

This medication is used to lower cholesterol, which decreases the risk of heart disease and helps prevent strokes and heart attacks.

“The drug will be manufactured at the group’s formulations manufacturing facility at SEZ, Ahmedabad,” Cadila said.

The group now has 273 approvals and has so far filed over 360 ANDAs since 2003-04.

The stock was quoting at Rs 237.15, up Rs 8.95, or 3.92 percent, on the BSE at 1336 hours. – MoneyControl