Cadila Healthcare jumps after its arm partners with CHEMI of Italy

23 Aug 2021 Evaluate

Cadila Healthcare is currently trading at Rs. 542.60, up by 7.40 points or 1.38% from its previous closing of Rs. 535.20 on the BSE.

The scrip opened at Rs. 567.00 and has touched a high and low of Rs. 576.25 and Rs. 542.10 respectively. So far 681127 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 673.70 on 12-May-2021 and a 52 week low of Rs. 358.10 on 11-Sep-2020.

Last one week high and low of the scrip stood at Rs. 576.25 and Rs. 522.00 respectively. The current market cap of the company is Rs. 55880.99 crore.

The promoters holding in the company stood at 74.88%, while Institutions and Non-Institutions held 15.22% and 9.90% respectively.

Zydus Pharmaceuticals Inc, USA (a 100% subsidiary of Cadila Healthcare (Zydus Cadila)) has signed a license and supply agreement with CHEMI SpA (CHEMI) of Italy, a subsidiary of Italfarmaco Group, to launch the generic equivalent of Sanofi Aventis’s branded product Lovenox (Enoxaparin Sodium Injection) in seven dosage strengths in the United States (US).

Under the agreement, CHEMI will manufacture and supply the Enoxaparin Sodium Injection which Zydus will commercialize in the US. CHEMI owns proprietary rights on a pharmaceutical product composed of Enoxaparin Sodium (Preservative Free) single-use pre-filled syringes, which is an AP-rated generic version of the branded product Lovenox. CHEMI, utilizing their proprietary technology, will produce the Enoxaparin Sodium injection within proprietary manufacturing facilities located in Italy. CHEMI within ITF group is also vertically integrated on the Enoxaparin Sodium API manufacturing which ensures quality and an uninterrupted supply of the critical care product.

Cadila Healthcare is an India-based pharmaceutical company. The company's subsidiaries include Zydus Wellness, Liva Pharmaceuticals, Biochem Pharmaceutical Industries, Zydus Technologies, German Remedies, Dialforhealth India, Dialforhealth Unity and Dialforhealth Greencross, among others.


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