The shares of this pharmaceutical company gained up to 1.7 percent after the company received final approval from the United States Food and Drug Administration (USFDA) for Ivabradine Tablets.
With a market capitalization of Rs 64,882.29 Crores. Zydus Lifesciences Ltd, On Friday, The shares were trading at Rs 639.95 a share, an increase of 0.33 percent from the previous closing price.
According to the exchange filing, Zydus Lifesciences Ltd received final approval from the United States Food and Drug Administration (USFDA) for Ivabradine Tablets, Corlanor Tablets, 5 mg and 7.5 mg.
Moreover, in adult patients with stable, symptomatic chronic heart failure and a reduced left ventricular ejection fraction, ivabradine is recommended to lessen the chance of hospitalization due to worsening heart failure. Additionally, stable symptomatic heart failure caused by cardiomyopathy is treated with it in children six months of age and older.
Together with the aforementioned paragraph, Zydus was among the first ANDA applicants to submit a substantially finished ANDA along with a paragraph IV certification for 5 mg and 7.5 mg Ivabradine Tablets. In the US, ivabradine tablets containing 5 mg and 7.5 mg are sold for USD 136.5 million annually.
Eight new products were introduced by Zydus Lifesciences Ltd. These included the Plerixa injection, which was introduced on Day 1, and the Indomethacin suppository, which was given 180 days of CGT exclusivity. received nine approvals for new products and filed four ANDAs.
Looking into the company’s performance, Zydus Lifesciences Ltd’s revenue increased by 5.6 percent from Rs 4,135 Crore in Q2FY23 to Rs 4,369 Crore in Q2FY24. During the same period, net profit increased by 52.6 Rs 526 crore to Rs 803 Crore.
Zydus Lifesciences Limited, formerly Cadila Healthcare Limited, is a multinational pharmaceutical company based in Ahmedabad, India. It specializes in producing generic drugs. The business was ranked 100th on the Fortune India 500 list in 2020.
Written by:- Abhishek Singh
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