The shares of this multinational pharmaceutical company gained up to 2.5 percent after the company entered into an exclusive licensing and supply agreement for Palbociclib Tablets for the US market.
With a market capitalization of Rs 72,610.46 crore, the shares of Zydus Lifesciences Ltd were trading at Rs 717.35 per share, increasing around 1.20 percent as compared to the previous closing price of Rs 708.85 apiece.
According to the company filing, Zydus Lifesciences Ltd and Synthon entered into an exclusive licensing and supply agreement for Palbociclib Tablets (a generic version of IBRANCE) for the US market.
Furthermore, under this arrangement, Synthon will be responsible for securing US regulatory clearance for Palbociclib Tablets, as well as manufacturing and supplying the medicine, while Zydus will be responsible for commercializing the cancer treatment in the United States.
Additionally, IBRANCE is also a kinase inhibitor approved for the treatment of adult patients with hormone receptor (HR)-positive, human epidermal growth factor receptor 2 (HER2)-negative advanced or metastatic breast cancer.
Zydus Lifesciences Ltd’s sales grew by 5.6 percent from Rs 4,135 crore in Q2FY23 to Rs 4,369 crore in Q2FY24. During the same year, net profit climbed by Rs 52.6 percent from Rs 526 crore to Rs 803 crore.
The company maintained its leading position in Sri Lanka, with a 7.4 percent market share and 30 products ranking first in their respective molecular categories. In the Philippines, the Company outpaced the expansion of the participating market and ranked ninth.
Net capital expenditure for the year, including capital work in progress but excluding acquisition-related expenditures, was Rs 9.6 billion. During the year, capex was mostly used to build new facilities as well as upgrade and expand existing facilities.
Zydus Lifesciences Ltd. conducts research and development, manufactures, markets, and sells final dosage human formulations, including generics and specialty formulations, such as biosimilars and vaccines, as well as active pharmaceutical components.
Written by:- Abhishek Singh.
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