Pharma stock engaged in manufacturing and distributing of pharmaceutical products gained traction on Thursday’s trading session after company received a tentative approval from the USFDA to manufacture cancer drugs.
Share price variations:
With a market capitalization of Rs. 1,07,948.78 crores, Zydus Lifesciences Limited opened the trading session at Rs. 1,087.25, from Tuesday’s close of Rs. 1,080.35. The stock reached an intraday high of Rs. 1,087.25, reflecting a 0.63% increase from previous close and at 01:30 pm the stock was trading for Rs. 1,062.90 a piece.
What Happened:
Zydus Lifesciences Limited has received tentative approval from the United States Food and Drug Administration (USFDA) to manufacture Enzalutamide Tablets in 40 mg and 80 mg strengths. The drug is used in the treatment of patients with castration-resistant prostate cancer and metastatic castration-sensitive prostate cancer.
The tablets will be produced at the Group’s facility in SEZ, Ahmedabad. As per IQVIA MAT data from July 2024, Enzalutamide tablets (40 mg and 80 mg) recorded annual sales of USD 1.42 billion in the United States.
Recent Updates
Recently, the chairman announced plans to develop a best-in-class drug for osteoporosis induced by chronic kidney disease (CKD) in collaboration with the CSIR-Central Drug Research Institute in Lucknow. CKD affects more than 10% of the global population, presenting significant health challenges.
In September, the company acquired a 50% stake in Sterling Biotech Limited, which primarily manufactures fermentation-based API products. This acquisition allows the company to expand into the fermentation-based protein business.
Financial Performance:
For Q1FY25 the company reported a net profit increase of 31.6% to Rs. 1,463.6 crores compared to net profit of Rs. 1,112.1 crores in Q1FY24, while revenue from operations also marked an increase by 19.66% to Rs. 6,046.5 crores from
Rs. 5,052.8 crores in comparison to the same period. Company has a ROE of 20.64% and ROCE of 23.94% in FY24.
About the company:
Incorporated in 1995 Zydus Lifesciences Ltd. (Formerly known as Cadila Healthcare Ltd.) is one of the leading innovation driven pharmaceutical companies in India with presence across the pharmaceutical value chain including innovating , manufacturing, marketing and selling of finished dosage human formulations , Active Pharmaceutical Ingredients, animal healthcare products and consumer wellness products.
The Company operates manufacturing facilities at Ahmedabad, Ankleshwar and Vadodara in Gujarat, Ponda in Goa, Raigad in Maharashtra and Solan in Himachal Pradesh.
Written By Joseph Pv
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