Zydus Life in focus: Shares of pharmaceutical company Zydus Life surged as much as 5.66 per cent to hit an intraday high of Rs 1,213.95 per share.
The shares surged after the pharmaceutical major announced that it has secured final nod from United States Food and Drug Administration (USFDA) for Valsartan tablets
In an exchange filing, Zydus Lifesciences said, “Zydus Lifesciences Limited (including its subsidiaries/ affiliates, hereafter referred to as “Zydus”) has received final approval from the United States Food and Drug Administration (USFDA) to market Valsartan Tablets USP, 40 mg, 80 mg, 160 mg and 320 mg (USRLD: Diovan tablets).
Valsartan tablets are indicated for the treatment of hypertension, to lower blood pressure in adults and paediatric patients one year of age and older. It is also used in adults to treat heart failure (a condition in which the heart is unable to pump enough blood to the rest of the body) and to improve survival after a heart attack.
The drug will be produced at their formulation manufacturing facility located in Ahmedabad SEZ – II, Zydus Life said.
According to IQVIA MAT May 2024, annual sales of Valsartan tablets in the United States amounted to $149.5 million.
Since beginning the filing process in FY 2003-04, the group has obtained 400 approvals and submitted over 460 abbreviated new drug applications (ANDAs), it added.
Zydus Lifesciences Ltd, previously known as Cadila Healthcare Ltd, is a global company in the life sciences sector.
It focuses on discovering, developing, manufacturing, and marketing healthcare therapies. The company’s portfolio includes a range of products: finished dosage human formulations (such as generics, branded generics, specialty formulations including biosimilars and vaccines), active pharmaceutical ingredients (APIs), animal healthcare products, and consumer wellness products.
Zydus Life’s therapies cover various medical areas including gastrointestinal, cardiovascular, respiratory, pain management, cancer, inflammation, neurology, and women’s health.
Operating globally, the company has established markets in the US, Europe, South Africa, Japan, Brazil, and other emerging markets. Zydus Lifesciences is headquartered in Ahmedabad, Gujarat, India.
The market capitalisation of Zydus Life is Rs 1,18,534.36 crore, according to Bombay Stock Exchange (BSE).
At 2:27 PM, Zydus Life shares were trading 2.54 per cent higher at Rs 1,178 per share. In comparison, BSE Sensex was trading 0.56 per cent lower at 79,975.08 levels.
First Published: Jul 24 2024 | 2:33 PM IST
