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Cadila Healthcare slips on recalling over 20,500 bottles of anti-depressant tablets in US

24 Nov 2016 Evaluate

Cadila Healthcare is currently trading at Rs. 385.55, down by 6.50 points or 1.66% from its previous closing of Rs. 392.05 on the BSE.

The scrip opened at Rs. 391.00 and has touched a high and low of Rs. 392.00 and Rs. 383.80 respectively. So far 11,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 429.45 on 01-Nov-2016 and a 52 week low of Rs. 295.50 on 18-Jan-2016.

Last one week high and low of the scrip stood at Rs. 394.00 and Rs. 360.55 respectively. The current market cap of the company is Rs. 39,321.00 crore.

The promoters holding in the company stood at 74.79%, while Institutions and Non-Institutions held 17.25% and 7.96% respectively.

Cadila Healthcare has recalled over 20,500 bottles of anti-depressant Bupropion Hydrochloride extended release tablets from US markets made by the company. The Class III ongoing nationwide and Puerto Rico recall is initiated in a situation in which use of or exposure to a violative product is not likely to cause adverse health consequences.

As per the latest Enforcement Report of the US Food and Drug Administration (USFDA), the reason for the recall is failed dissolution specifications: the firm was notified that there was dissolution out of specification result on the 6 month stability samples.

Cadila Healthcare is part of the Zydus Cadila Group. The company operates in areas of active pharmaceutical ingredients (API) to formulations, and animal health products to cosmeceuticals. Over the last five decades, it has been developing and manufacturing pharmaceutical products and selling and distributing these in over 50 countries around the world.


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