Cadila healthcare up by 0.75% on positive development of USFDA approval By Mr. Yash Gupta, Angel Broking Ltd
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Below are Quote on Cadila healthcare up by 0.75% on positive development of USFDA approval by Mr. Yash Gupta Equity Research Associate, Angel Broking Ltd
Zydus Cadila has received tentative approval from the USFDA to market Osimertinib Tablets in the strengths of 40 mg and 80 mg. Osimertinib is used to treat lung cancer. It belongs to a class of drugs known as kinase inhibitors. Osimertinib works by slowing or stopping the growth of cancer cells. It binds to a certain protein in some tumors. The drug will be manufactured at the Cadila formulation manufacturing facility at the SEZ, Ahmedabad. This is very good approval for Cadila Healthcare. We expect that it will take 3-6 months to launch the Osimertinib Tablets in the USA market. We have a positive outlook for Cadila Healthcare Limited.
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
