Cadila Healthcare gets nod for cancer treatment; stock positive

The major pharma player of Zydus Group, Cadila Healthcare informed that it has received USFDA approval for cancer-related treatment.

The press release submitted by the company to stock exchanges added that the company has initiated the second phase trial of Desidustat in Mexico for the management of patients with COVID-19.

On Thursday, the company said in a statement that it has received approval for the initiation of clinical trials of Desidustat in Chemotherapy Induced Anemia (CIA). It would be used to treat cancer patients, who develop anemia while undergoing chemotherapy.

The company has estimated that approximately 1.3 million cancer patients undergo chemotherapy every year in the United States and among them, around 30 per cent to 90 per cent develop anemia. This enhances its scope for product growth and utilisation.

The company stands out as one of the leading pharma companies in the world. Its core fundamental growth is driven by 294 approved & filed 390 abbreviated new drug applications (ANDAs). In addition to this, the company’s fast-tracking efforts for COVID-related vaccines can also act as a key trigger for the company.

On Thursday, the stock of Cadila Healthcare is trading at Rs 370 per share price, higher by 1 per cent on BSE.