Zydus Lifesciences surges after its arm gets USFDA`s approval for Tofacitinib Tablets
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Zydus Lifesciences is currently trading at Rs. 483.20, up by 4.65 points or 0.97% from its previous closing of Rs. 478.55 on the BSE.
The scrip opened at Rs. 478.60 and has touched a high and low of Rs. 484.50 and Rs. 478.20 respectively. So far 32866 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 488.10 on 16-Mar-2023 and a 52 week low of Rs. 319.40 on 11-May-2022.
Last one week high and low of the scrip stood at Rs. 485.60 and Rs. 469.00 respectively. The current market cap of the company is Rs. 48697.14 crore.
The promoters holding in the company stood at 74.98%, while Institutions and Non-Institutions held 16.21% and 8.81% respectively.
Zydus Lifesciences’ subsidiary -- Zydus Pharmaceuticals (USA) Inc. has received final approval for Tofacitinib Tablets, 5 mg and tentative approval for Tofacitinib Tablets, 10 mg (USRLD: Xeljanz Tablets) from the United States Food and Drug Administration (USFDA).
Zydus was one of the first ANDA applicants to submit a substantially complete ANDA with a paragraph IV certification for Tofacitinib Tablets, 5 mg and therefore is eligible for 180 days of shared generic drug exclusivity for Tofacitinib Tablets, 5 mg. Tofacitinib is indicated for the treatment of adult patients with moderately to severely active rheumatoid arthritis and for the treatment of adult patients with active psoriatic arthritis. It is also indicated for the treatment of adult patients with moderately to severely active ulcerative colitis (UC). The drug will be manufactured at the group’s formulation manufacturing facility in Moraiya, Ahmedabad (India).
Tofacitinib Tablets, 5 mg and 10 mg had annual sales of $900 million in the United States (IQVIA MAT Dec. 2022). The group now has 352 approvals and has so far filed over 440 ANDAs since the commencement of the filing process in FY 2003-04.
