Astrazeneca Pharma India gains after DCGI nod for asthma drug

AstraZeneca Pharma India rose 1.47% to Rs 933 at 11:02 IST on BSE after the company said it received import and market permission in Form 45 from Drug Controller General of India for FDC of inhalation powder.
The announcement was made after market hours yesterday, 15 June 2017.
Meanwhile, the S&P BSE Sensex was up 15.81 points, or 0.05% to 31,091.54.
On the BSE, 2,453 shares were traded in the counter so far, compared with average daily volumes of 4,977 shares in the past one quarter. The stock had hit a high of Rs 955.65 and a low of Rs 930 so far during the day. The stock hit a 52-week high of Rs 1,146.95 on 24 August 2016. The stock hit a 52-week low of Rs 909 on 27 February 2017.
The stock had underperformed the market over the past one month till 15 June 2017, falling 5.30% compared with 1.36% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 2.92% as against Sensex's 4.81% rise. The scrip had also underperformed the market in past one year, falling 14.72% as against Sensex's 17.15% rise.
The small-cap company has equity capital of Rs 5 crore. Face value per share is Rs 2.
AstraZeneca Pharma India said it received import and market permission in Form 45 (marketing authorization) from the Drug Controller General of India for fixed-dose combination (FDC) of Budesonide 320 g +Formoterol Fumarate Dihydrate 9 g inhalation powder.
FDC of Budesonide 320 g + Formoterol Fumarate Dihydrate 9 g inhalation powder (Symbicort Turbuhaler 320/9 g) is a product of AstraZeneca global and is indicated in the regular treatment of Asthma where use of combination of inhaled regular corticosteroid & long acting agonist is appropriate and patients with moderate to severe chronic obstructive pulmonary disease (COPD) with frequent symptoms and a history of exacerbations.
Astrazeneca Pharma India reported net loss of Rs 2.88 crore in Q4 March 2017 as against net profit of Rs 0.56 crore in Q4 March 2016. Net sales declined 16.90% to Rs 110.95 crore in Q4 March 2017 over Q4 March 2016.
AstraZeneca Pharma India is a subsidiary of AstraZeneca Plc, UK. It covers manufacturing, sales and marketing activities of the company in India. The company has an innovative portfolio in crucial areas of healthcare including cardiovascular and & metabolic diseases, oncology and respiratory.
Source:http://www.business-standard.com/article/news-cm/astrazeneca-pharma-india-gains-after-dcgi-nod-for-asthma-drug-117061600273_1.html

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