Mumbai: Cadila Healthcare said on Monday its manufacturing unit in Himachal Pradesh has received US Food and Drug Administration’s (U.S. FDA) approval and would commence supplies to the world’s top drug market.
Shares of Cadila Healthcare, part of the Zydus Cadila group that also runs Zydus Wellness , rose over 2% after the announcement.
The plant located at Baddi town was set up in 2004 and manufactures oral solid dosage forms which include hard gelatin capsules and tablets, the Ahmedabad-based drugmaker said in a statement.
“The US FDA approval for the Baddi plant enables us to open up an additional resource to cater to the growing needs of our US business,” Zydus Cadila chairman and managing director Pankaj Patel said in a statement.
Earlier this month, Cadila said it had received a warning letter from the US FDA following a pre-approval inspection of a new injectable facility in the western state of Gujarat pushing its shares down over 4%.
At 2:59 p.m., shares of Cadila Healthcare, which have gained 2.87% in value terms in three months, were trading at 1.89% up at Rs 888.05 in a firm Mumbai market.