Shares of this large-cap pharma company jumped upon getting approval from USFDA
The company is one of the leading innovation-driven pharmaceutical companies in India with a presence across the pharmaceutical value chain.
The previous day's close of the shares was at Rs 443.20. On Tuesday, the shares opened at Rs 440.55 and made the day's high at Rs 458.60 a piece.
The United States Food and Drug Administration (USFDA) has given final permission to Zydus Lifesciences to market Febuxostat Tablets, 40 mg and 80 mg (USRLD: Uloric Tablets).
The purpose of febuxostat tablets is to reduce hyperuricemia (high levels of uric acid in the blood) in gout patients who have either undergone unsuccessful allopurinol treatment or are ineligible for allopurinol therapy. The group's formulation manufacturing facility in Moraiya, Ahmedabad, will produce the medication.
According to IQVIA data, the annual sales of Febuxostat tablets in the United States were USD 32 million (IQVIA MAT September 2022). Since the filing procedure began in FY 2003–2004, the group has received 340 approvals and has submitted over 431 ANDAs.
Zydus Lifesciences (formerly known as Cadila Healthcare) is an India-based pharmaceutical company. The firm has a network of cutting-edge, economically viable, and legally acceptable production facilities that guarantee a steady supply of premium goods at the most aggressive pricing to its clients across the world.
The company's research and development projects include New Chemical Entities (NCE), biologics, vaccines, speciality and complicated generic formulations, and API process development. These initiatives cut throughout the pharmaceutical value chain. The business operates internationally and sells its goods in nations including the United States, India, Europe, and emerging markets like those in Africa, Latin America, and the Asia-Pacific region.
The 52-week high of the stock is Rs 458.60, whereas the 52-week low was Rs 319.00. Promoter’s holdings stood at 74.98%, whereas Institutional and Non-Institutional holdings are 16.20 % and 8.81%, respectively. Presently, the market cap of the company is Rs 46,313.40 crore.
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