The share price of the leading pharmaceutical company rose by 2% to hit its 52-week high of ₹764 per share from its previous close of ₹748.85 on Tuesday after the company introduced a medicine for prostate cancer.
Zydus Lifesciences Ltd introduced Rexigo, an oral once-daily pill for advanced prostate cancer, in India. It is the first generic oral therapy for testosterone suppression, providing a more convenient and cost-effective alternative to injections, according to the exchange filling.
Rexigo, priced at ₹6,995 per month, is 50% less expensive than injectables and has a better cardiovascular safety profile, making it a significant step forward in prostate cancer management. The company’s goal is to improve access and affordability of cancer therapies, cementing its position as a market leader in oncology.
Looking at its financials the company’s net revenue increased by 5.6% YoY from ₹4,135 crores in Q2FY23 to ₹4,369 crores in Q2FY24 and on the QoQ basis its net revenue fell by 15% from ₹5,140 crores in Q1FY24.
The net profit of the company rose by 38% YoY from ₹526 crores in Q2FY23 to ₹803 crores in Q2FY24 and on the QoQ basis, their net profit fell by 29% from ₹1,134 crores in Q1FY24.
Zydus Lifesciences Ltd has a market capitalization of 77,000 crores, the share price of the company rose by 20% in the last six months and 78% last year.
The company has a low price-to-earnings ratio of 27 compared to its competitors, with a low debt-to-equity ratio of 0.07, a dividend yield of 0.8%, and a net profit margin of 14.6%.
According to their shareholding structure, the company’s promoter owns 75%, foreign institutional investors own 5%, the retail investor owns 7%, and domestic institutional investors own 13%.
Zydus Lifesciences Ltd. is an Indian company that focuses on the research, development, manufacturing, marketing, and sales of various healthcare products for humans and animals. Their products include generics, specialty formulations, APIs, vaccines, animal healthcare, and consumer wellness products.
Written by Sriram KV
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