Zydus Lifesciences jumps on getting final approval from USFDA for Varenicline Tablets
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Zydus Lifesciences is currently trading at Rs. 518.60, up by 8.65 points or 1.70% from its previous closing of Rs. 509.95 on the BSE.
The scrip opened at Rs. 510.05 and has touched a high and low of Rs. 519.10 and Rs. 508.80 respectively. So far 27356 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 530.70 on 09-May-2023 and a 52 week low of Rs. 329.60 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 520.40 and Rs. 504.15 respectively. The current market cap of the company is Rs. 52442.30 crore.
The promoters holding in the company stood at 74.98%, while Institutions and Non-Institutions held 17.02% and 8.00% respectively.
Zydus Lifesciences has received final approval from the United States Food and Drug Administration (USFDA) to manufacture and market Varenicline Tablets, 0.5 mg and 1 mg (USRLD: Chantix Tablets). The product will be launched shortly. Varenicline tablets is indicated to treat smoking addiction. The drug will be manufactured at the group’s formulation manufacturing facility at Ahmedabad SEZ, India.
Varenicline Tablets, 0.5 mg and 1 mg had annual sales of $501 million in the United States (IQVIA MAT March 2023). The group now has 374 approvals and has so far filed over 442 (as of March 31, 2023) ANDAs since the commencement of the filing process in FY 2003-04.
Zydus Lifesciences (formerly known as Cadila Healthcare) is an India-based pharmaceutical company.
