This Pharma Stock in focus after its share hit 20 percent Upper circuit following the reporting of approval from Poland’s National Authority for a drug used in the treatment of multiple sclerosis (MS).
Share Price Movement
With a market capitalization of Rs. 418 Crore, the stock of Zim Laboratories opened at Rs. 87.74, up 2.5 percent from yesterday’s close, and after opening it made a high of 101.72 and hit 20 percent Upper Circuit. However the stock later declined to trade around Rs.86.50, Additionally, the Yearly return for the stock is -12 percent.
Updates from Company
The Portuguese National Authority of Medicines and Health Products granted Marketing Authorization for the company’s Central Nervous System (CNS) product called Dimethyl Fumarate 120 mg & 240 mg. The approval has been given to the company’s wholly owned European subsidiary, SIA ZIM Laboratories.
The company states that this approval will allow faster approval from other European Union, UK, and other countries. According to IQVIA, the market size for the EU for this product in 2023 was approx $800 USD Million, UK Contributed $200 Million.
Also read: Stock jumps over 3% after company plans to partner with Elon musk’s Starlink
About the Company
ZIM Laboratories Limited is an Indian pharmaceutical company specializing in the development, manufacturing, and marketing of novel drug delivery solutions. Headquartered in Nagpur, India, the company focuses on oral solid dosage forms, including multilayered tablets, granules, pellets, and orally disintegrating strips (ODS) to enhance drug efficacy and patient compliance.
Financial Highlights
The company reported a marginal increase of 0.04 percent YoY increase in revenue from Rs. 96.29 Crore in Q3FY24 to Rs. 96.33 Crore in Q3FY25. On a QoQ basis, the company reported an increase of 4.54 percent in revenue from Rs. 92.14 Crore in the previous quarter.
Their Net profit saw a decrease of 16.31 percent YoY from Rs. 4.78 Crore to Rs. 4.00 Crore for the same period. On a QoQ basis, the company reported an increase of 68.06 percent in Net profit from Rs. 2.38 Crore in the previous quarter.
Written By Abhishek Das
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