Following the announcement of entering into a licensing and supply agreement with MSN Laboratories, the share price of this large-cap pharma stock and a global innovation-driven healthcare company surged by 3.2 percent on BSE to hit an intraday high at Rs. 1,041.1 during the Friday morning trading session.
At 10:45 a.m., the shares of Zydus Lifesciences Limited were trading in the green at Rs. 1,033.2, up by 2.43 percent, with a market capitalisation of Rs. 1.03 lakh crore.
According to the latest regulatory filings with the stock exchanges, Zydus Lifesciences Global FZE, a wholly-owned subsidiary of Zydus Lifesciences Ltd., entered into a licensing and supply agreement with MSN Laboratories for Cabozantinib Tablets for the US market.
Cabozantinib Tablet, a generic version of CABOMETYX®, is used in the treatment of different types of cancer including liver cancer, kidney cancer, and thyroid cancer.
Under the terms of the agreement, MSN Laboratories will manufacture and supply the generic version of CABOMETYX® after receiving the receipt of regulatory approval, while Zydus will market, distribute, and sell the Product exclusively in the US market.
MSN was the first sole ANDA applicant for Cabozantinib Tablets, to submit a substantially complete ANDA with a paragraph IV certification and therefore may be eligible for 180 days of generic drug exclusivity for the generic version of CABOMETYX®.
The total addressable market opportunity of Cabozantinib Tablets in the United States is estimated to be around Rs. 1.06 lakh crore, or $1,464 million.
Zydus Lifesciences reported a 4.5 percent YoY growth in revenue from operations from Rs. 4,160 crore in Q3 FY22-23 to Rs. 4,344 crore in Q3 FY23-24. During the same period, net profit increased by 25.3 percent from Rs. 585.3 crore to Rs. 733.5 crore.
Zydus Lifesciences Ltd. is one of the leading players in the Indian pharmaceutical market having a presence across key therapy areas. It is an innovative, global lifesciences company that discovers, develops, manufactures, and markets a broad range of healthcare therapies.
Written by Shivani Singh
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