The shares of the multinational pharmaceutical company gained up to 3 percent after the company received final Approval from the USFDA for Chlorpromazine Hydrochloride Injection.
With a market capitalization of Rs 1.00 lakh crore, the shares of Zydus Lifesciences Ltd were trading at Rs 990.70 per share, increasing around 2.27 percent as compared to the previous closing of Rs 968.70 apiece.
According to the company filing, Zydus Lifesciences Ltd has been granted final USFDA permission to manufacture and commercialize Chlorpromazine Hydrochloride Injection USP, 25 mg/mL and 50 mg/2 mL (25 mg/mL), Single-Dose Vials.
Furthermore, Chlorpromazine Hydrochloride Injection is utilized to treat some mental and emotional problems. It is also used to treat nausea/vomiting, long-lasting hiccups, restlessness/anxiety before to surgery, a specific liver issue (porphyria), and tetanus.
Moreover, Furthermore, Chlorpromazine Hydrochloride Injection USP, 25 mg/mL and 50 mg/2 mL (25 mg/mL), Single-dose vials had an annual sales of USD 12.5 million in the United States (IQVIA MAT Jan 24). Since FY 2003-04, the group has received 391 approvals and submitted more than 460 ANDAs.
Looking into the company’s performance, Zydus Lifesciences Ltd’s sales grew by 6%, from Rs 4,257 Crore in Q3FY23 to Rs 4,505 Crore in Q3FY24. During the same year, net profit climbed by 25% from Rs 631 crore to Rs 790 crore.
In FY22-23, the Company purchased Watson Pharma Pvt. Ltd.’s API manufacturing plant in Ambernath, Maharashtra, India for Rs 467.7 mn to increase capacity and develop new products.
The company’s chronic portfolio grew faster than the market with 12% growth vs. IPM growth of 11%. Share of chronic therapies in overall portfolio went up by 136 bps in CY23 to 41%.
Zydus Lifesciences Ltd. manufactures, markets, and sells finished dosage human formulations, such as generics and specialty formulations, including biosimilars and vaccines; active pharmaceutical ingredients (APIs); animal healthcare products; and consumer wellness products.
Written by:- Abhishek Singh
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