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Zydus Lifesciences shines on getting nod to manufacture, market 50mg Indomethacin suppositories

Aug-03-2023   11:50 Hrs IST

Zydus Lifesciences is currently trading at Rs. 648.25, up by 20.15 points or 3.21% from its previous closing of Rs. 628.10 on the BSE.

The scrip opened at Rs. 620.05 and has touched a high and low of Rs. 651.30 and Rs. 620.05 respectively. So far 20489 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 656.50 on 27-Jul-2023 and a 52 week low of Rs. 342.80 on 03-Aug-2022.

Last one week high and low of the scrip stood at Rs. 656.50 and Rs. 622.00 respectively. The current market cap of the company is Rs. 65565.52 crore.

The promoters holding in the company stood at 74.98%, while Institutions and Non-Institutions held 17.56% and 7.47% respectively.

Zydus Lifesciences has received final approval from the United States Food and Drug Administration (USFDA) to manufacture and market Indomethacin suppositories, 50mg. Zydus’ Indomethacin suppositories, 50 mg is the generic version of the Reference Listed Drug (RLD) Indocin suppositories. The company has been granted a CGT designation by the USFDA for its Indomethacin suppositories. Zydus’ Indomethacin suppositories also been granted 180-day CGT exclusivity to market this product

Indomethacin suppositories is a non-steroidal, anti-inflammatory drug indicated for moderate to severe rheumatoid arthritis including acute flares of chronic disease, moderate to severe ankylosing spondylitis, moderate to severe osteoarthritis, acute painful shoulder (bursitis and/or tendinitis) and acute gouty arthritis. Indomethacin suppositories 50mg had an annual sale of around $95 million in the United States (IQVIA MAT April-2023).

Zydus Lifesciences (formerly known as Cadila Healthcare) is an India-based pharmaceutical company.