AstraZeneca Pharma India shares rise over 2% after CDSCO clears Imfinzi for new cancer use
AstraZeneca Pharma India
rose over 2% to Rs 9100 on BSE in Wednesday's trade after the company received regulatory approval for a new use of its
cancer therapy
Imfinzi.
On Tuesday,
AstraZeneca Pharma India
announced that it has received clearance from the Central Drugs Standard Control Organisation (CDSCO) to import durvalumab solution for infusion (brand name: Imfinzi) in 120 mg/2.4 ml and 500 mg/10 ml strengths for an additional indication.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Trekking pants for mountain sports and adventure travel
Trek Kit India
Shop Now
The
CDSCO approval
allows Imfinzi, in combination with carboplatin and paclitaxel, to be used as a first-line treatment for adults with primary, advanced, or recurrent endometrial cancer who are candidates for systemic therapy. The treatment will be followed by maintenance therapy using durvalumab and olaparib for patients with mismatch repair proficient (pMMR) endometrial cancer.
'This regulatory clearance enables AstraZeneca to market the approved formulation of Imfinzi in India for the specified indication, subject to other applicable statutory approvals,' the company said in a statement.
Impressive fourth-quarter earnings
Live Events
The regulatory development comes on the heels of a strong earnings report by AstraZeneca Pharma India. The company posted a 47.7% year-on-year jump in net profit to Rs 58.2 crore for the quarter ended March 2025, up from Rs 39.4 crore a year earlier.
Revenue for the quarter rose 25.4% to Rs 480.4 crore compared with Rs 383.2 crore in the same period last year, supported by "continued demand across its key therapy areas and improved market penetration".
Earnings before interest, tax, depreciation and amortisation (EBITDA) climbed 74.7% to Rs 86.3 crore, compared to Rs 49.4 crore a year ago. The EBITDA margin improved sharply to 17.96%, up from 12.89%.
The management attributed the robust financial performance to "continued investment in innovation and its portfolio of newer-generation therapies in the oncology, cardiovascular, and respiratory segments".
Stock performance and technical setup
On Tuesday, shares of AstraZeneca Pharma India closed at Rs 8,890 on the BSE, up by Rs 18.30 or 0.21%. The stock has gained 39.2% in the past year and 23.7% over the last six months. In the last three months, the shares are up nearly 5%, and have risen 11.6% in the past one month.
From a technical perspective, the stock is currently trading below its 10-day, 20-day, and 30-day simple moving averages (SMAs), but remains above its 5-day, 50-day, 100-day, 150-day, and 200-day SMAs.
The Relative Strength Index (RSI) stands at 45.7, suggesting neutral momentum. The Moving Average Convergence Divergence (MACD) is at 1.3, above the center line but below the signal line, indicating a potential pause in recent momentum.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
30 minutes ago
- Economic Times
Crizac IPO fully subscribed on Day 2 on NII, retail push; GMP rises to 15%
The initial public offering (IPO) of Crizac Limited was fully subscribed on Day 2 of bidding, Thursday, July 3. ADVERTISEMENT The offer received bids for 2.73 crore shares against 2.58 crore shares on offer. Demand was led by non-institutional investors (NIIs), who subscribed 1.77 times their allocated quota, followed by retail investors at 1.31 times. The qualified institutional buyers (QIB) segment saw a subscription of 10%. In the grey market, Crizac shares were trading at a premium of Rs 36–39, up from Rs 22–25 on Day 1, indicating a grey market premium (GMP) of around 15%, compared to 9% earlier. The Rs 860 crore IPO is entirely an offer-for-sale (OFS) of 3.51 crore equity shares, priced in a band of Rs 233–245 per share. The issue closes on July 4, and the listing is expected on July 9 on both BSE and NSE. Founded in 2011, Crizac operates a B2B international education platform that connects universities in the UK, Canada, Ireland, Australia, and New Zealand with a global network of over 10,000 student recruitment agents. It sources applications from more than 75 countries via its proprietary tech platform. The company has demonstrated robust growth — revenue rose from Rs 274 crore in FY23 to Rs 849 crore in FY25, marking a CAGR of 76%. Net profit grew from Rs 110 crore to Rs 152 crore over the same period. FY25 EPS stood at Rs 8.74, with a net margin of 18%. ADVERTISEMENT Crizac is a debt-free company with strong cash flows, reflecting a healthy balance sheet. At the upper price band, the IPO is valued at a P/E of 28x and P/B of 9x based on FY25 earnings — roughly in line with its listed peer IndiaMART. Analysts say Crizac is well-positioned to benefit from India's growing overseas education market, projected to cross 2.5 million outbound students by 2030. Its scalable B2B model, focus on Tier-1 geographies, and proprietary platform give it a unique edge. ADVERTISEMENT However, potential investors should monitor regulatory tightening in key markets like the UK and Canada, which could impact student inflows and growth momentum.'Crizac combines digital scale, a rising global education trend, and consistent financial performance — elements that long-term investors typically prize. Subscribe for long-term gains,' said Canara Bank Securities. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
40 minutes ago
- Time of India
UAE adds another flying taxi: US-based firm partners with Abu Dhabi for latest test flight success
Abu Dhabi completes its first successful flying taxi test at Al Bateen Executive Airport, paving the way for commercial launch in early 2026/Image credits: WAM Abu Dhabi has taken a major step toward futuristic transportation by successfully completing the first test flight of a flying taxi at Al Bateen Executive Airport. The flight was conducted by US-based Archer Aviation in partnership with the Abu Dhabi Investment Office (Adio), marking a milestone ahead of the planned commercial launch of air taxi services in early 2026. According to Omran Malek, Head of Autonomous Mobility and Robotics at Adio, the test flight is the first in a series of structured evaluations aimed at launching not just a flying taxi service, but a full-fledged aviation ecosystem. Speaking to local news outlet Khaleej Times, Omran Malek said, 'We don't just test to test, but test to commercialise. We're not just launching an air taxi service, we're building an ecosystem around us , from pilot training to MROs, to talent development, to manufacturing with Archer Aviation, with the facility in Al Ain.' The project also involves collaborations with universities to develop specialised curricula and short diplomas to prepare a skilled workforce for the sector. Testing Under UAE Conditions The testing phase will continue through the summer months to evaluate how the aircraft performs under Abu Dhabi's hot and dusty climate. 'Then we'll bring this aircraft to fly over the city and move into the commercial phase in early 2026,' Malek said. Dr Talib Alhinai, UAE Manager at Archer Aviation, said that the aircraft used in this phase was not piloted, as the goal is to test environmental readiness. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like One plan. Total peace of mind. ICICI Pru Life Insurance Plan Get Quote Undo 'It was a vertical takeoff and landing flight. Our initial flight test operations in the UAE are focused specifically on evaluating the aircraft's performance in high temperature, humidity, and dust,' he noted. Roadmap to Commercial Launch and Manufacturing Once testing is complete, Archer plans to launch a small fleet of air taxis in Abu Dhabi. Key priorities for the launch include: Safe commercial operations Fully developed vertiports Airspace integration 'All that is the priority for us to launch in Abu Dhabi,' said Malek. Looking further ahead, the manufacturing of the aircraft is scheduled to begin in Al Ain in 2027, with future exports planned to other interested countries across the region. A New Mode of Daily Travel Contrary to the belief that flying taxis will be exclusive to luxury travellers, Malek said pricing in Abu Dhabi will be designed to be feasible for the general public. 'As we introduce more vertiports and aircraft, that price will scale down so that it can be used on a daily basis,' he said. The announcement comes shortly after a similar successful test flight by Joby Aviation in Dubai, showing strong momentum in the UAE's push to lead urban air mobility in the region. Dubai's First Flying Taxi Test Flight Just this week, Dubai marked a key milestone in urban mobility with the first test flight of a flying taxi developed by Joby Aviation. The test took place at Joby's test facility at the Dubai Jetman Helipad in Margham, located along the Dubai–Al Ain Road. Dubai is now preparing for a commercial rollout by the first half of 2026, aiming to provide residents and visitors a premium air mobility service. The UAE is leading the way in futuristic transportation, with both Abu Dhabi and Dubai successfully conducting test flights for flying taxis. These milestones reflect the country's commitment to redefining urban mobility, with significant investment in advanced technologies. By embracing innovative transport solutions, the UAE is working to become one of the most livable cities in the world, focusing on convenience, sustainability, and efficiency for residents and visitors alike.
Time of India
41 minutes ago
- Time of India
RPower, Reliance Infra shares tumble up to 5% after SBI flags RCom loan as fraud
Shares of Reliance Power and Reliance Infrastructure tumbled in Thursday's trade after the State Bank of India (SBI) classified the loan account of Reliance Communications (RCom) as fraud, implicating the company's former director, Anil Ambani, Times of India reported. Reliance Power slipped 4.8% to Rs 64.75, while Reliance Infra hit the 5% lower circuit at Rs 377.45 on the BSE. According to RCom's disclosure dated July 1, SBI has informed the company of its intent to report Anil Ambani's name to the Reserve Bank of India (RBI), setting the stage for another legal battle amid the company's ongoing insolvency proceedings under the National Company Law Tribunal (NCLT). The fraud classification is based on a 2020 forensic audit by BDO, which found irregularities and prompted SBI's internal panel to act. Canara Bank had earlier classified the loan as fraud in November 2024, but the Delhi High Court later set aside that order. In its latest review, concluded on June 13, SBI's committee highlighted financial irregularities, including the alleged diversion of Rs 12,692 crore — about 41% of the total Rs 31,580 crore in loans — to connected parties. The report cited misuse of sanctioned funds, routing money through subsidiaries to mask transactions, and circular funding via inter-corporate deposits and intraday limits. RCom, currently managed by a resolution professional under the Insolvency and Bankruptcy Code (IBC), said the fraud classification would have 'NA' impact, citing protections available once a resolution plan is in place. Anil Ambani's legal team, Agarwal Law Associates, said SBI's action was passed ex parte and violated principles of natural justice. They argued that the show-cause notices were outdated under revised RBI norms, that Ambani held no executive role in the company's operations, and that the bank failed to share essential documents required for a proper response. The lawyers noted that similar notices had been withdrawn against other non-executive and independent directors, alleging Ambani had been unfairly singled out. They have requested the withdrawal of SBI's order and a personal hearing. The legal team also claimed the move defies several rulings by the Supreme Court, Bombay High Court, and RBI regulations, stating that Ambani's objections were ignored for nearly a year and that the bank failed to disclose the basis of its decision. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
