Zydus Cadila gets FDA approval for Metoprolol Succinate extended-release tablets

The drug will be manufactured at the group’s formulations manufacturing facility at SEZ, Ahmedabad, Gujarat.

Zydus Cadila, the international division of Indian pharmaceutical company Cadila Healthcare received the approval of the United States Food and Drug Administration (USFDA) to market its Metoprolol Succinate extended-release tablets.

The company can market the drug used for cardiac conditions in the US market in the strengths of 25 mg, 50 mg, 100 mg and 200 mg, Cadila said in a statement.

“Zydus Cadila has received the final approval from the USFDA to market Metoprolol Succinate Extended-Release Tablets USP in the strengths of 25 mg, 50 mg, 100 mg and 200 mg,” said the company.

“The drug is used to treat chest pain (angina), heart failure and high blood pressure. Lowering high blood pressure helps prevent strokes, heart attacks, and kidney problems,” it added.

The drug will be manufactured at the group’s formulations manufacturing facility at SEZ, Ahmedabad, Gujarat.

The share price of Cadila Healthcare showed an upward trend in the early trade on Monday in Bombay Stock Exchange (BSE) following the announcement by the company.

Brokerage firm CLSA upgraded the rating of Cadila shares to ‘buy’ from ‘underperform’ citing attractive valuations. The target price has also been raised to Rs 450 from Rs 440.

“We upgrade Cadila to BUY as we find its current 21 times FY19CL and 18 times FY20CL PE valuations attractive. The stock is at pre-Moraiya-plant-clearance levels and the company’s fundamentals have strongly improved since then,” said CLSA.

The group now has more than 185 approvals and has so far filed over 320 ANDAs since the commencement of the filing process in FY 2003-04.

Zydus Cadila is an innovative, global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies.

The group employs over 21,000 people worldwide and is dedicated to creating healthier communities globally. Zydus aspires to be a research-based pharmaceutical company by 2020.

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