Shares of this Indian mid-cap pharmaceutical company jumped on getting approval from USFDA
Shares are up today by more than 2% after the company announced about the development.
About the Approval
The United States Food and Drug Administration (USFDA) has given Erythromycin Tablets USP, 250 mg and 500 mg its final clearance (USRLD: Erythromycin Tablets). Including respiratory tract infections, skin infections, diphtheria, intestinal amebiasis, acute pelvic inflammatory disease, legionnaire's disease, pertussis, and syphilis, erythromycin tablets USP, 250 mg and 500 mg are used to prevent and treat infections in many different sections of the body.
The group's formulation manufacturing plant in Moraiya, Ahmedabad, will produce the medications (India). Sales of erythromycin tablets USP, 250 mg and 500 mg totaled $25.1 million per year in the US (IQVIA MAT Dec. 2022). The group has so far submitted approximately 440 ANDAs since the filing procedure began in FY 2003–2004, and it now has 350 approvals.
Share price movement of Zydus Lifesciences Ltd
Scrip opened today at Rs 468.95 and made its day high at Rs 478.50. The 52-week high of the stock is Rs 482.20, whereas the 52-week low was Rs 319.40. Promoters hold 74.98%, whereas institutional and non-institutional holdings are 16.20% and 8.81%, respectively. Presently, the market cap of the company is Rs 48,358.05 crore.
Cadila Healthcare was established in 1995 under the auspices of the Zydus group after the business underwent restructuring. The group's revenue increased significantly from its modest turnover of Rs 250 crore in 1995 to over Rs. 14,253 crore in FY20, reflecting the group's considerable financial expansion.
Zydus continues to develop with an unwavering emphasis on meeting the unmet healthcare requirements, staying true to its brand promise of being committed to life in all of its aspects. Meanwhile, it recommits to its goal of building happier, healthier communities all throughout the world.
Share Market Today
|Indices Name||Price||Price Change (% change)|
|S&P ASX 200||7087.30||52 (0.74%)|
|CAC 40||7303.45||20.87 (0.29%)|
|Dow Jones||35786.72||4.56 (0.01%)|
|FTSE 100||7464.63||37.22 (0.5%)|
|Hang Seng||17024.62||49.85 (0.29%)|
|US Tech 100||14179.96||-0.2 (0%)|
|Nikkei 225||33486.89||165.67 (0.5%)|
|S&P 500||4547.60||0.64 (0.01%)|
|Gift Nifty||20329.50||-4 (-0.02%)|
|Shanghai Composite||3029.67||7.98 (0.26%)|
|Taiwan Weighted||17433.85||63.29 (0.36%)|
|US 30||35944.90||2.5 (0.01%)|
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