Zydus Lifesciences surges as its arm gets nod to market Mirabegron Extended-Release Tablets
Zydus Lifesciences is currently trading at Rs. 394.50, up by 7.80 points or 2.02% from its previous closing of Rs. 386.70 on the BSE.
The scrip opened at Rs. 386.05 and has touched a high and low of Rs. 394.65 and Rs. 386.05 respectively. So far 15053 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 572.90 on 04-Oct-2021 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. 388.00 and Rs. 350.30 respectively. The current market cap of the company is Rs. 39141.93 crore.
The promoters holding in the company stood at 74.88%, while Institutions and Non-Institutions held 14.88% and 10.24% respectively.
Zydus Lifesciences’ U.S. subsidiary -- Zydus Pharmaceuticals (USA) has received final approval from the United States Food and Drug Administration (USFDA) to market Mirabegron Extended-Release Tablets USP 25 mg and 50 mg. Zydus was one of the first ANDA applicants to submit a substantially complete ANDA with a paragraph IV certification for Mirabegron Extended-Release Tablets, 25 mg and 50 mg and therefore is eligible for 180 days of shared generic drug exclusivity for Mirabegron Extended Release Tablets, 25 mg and 50 mg.
Mirabegron is indicated for the treatment of overactive bladder (OAB) with symptoms of urge urinary incontinence, urgency and urinary frequency. The drug will be manufactured at the group’s formulation manufacturing facility at Ahmedabad SEZ, India. Mirabegron Extended-Release Tablets USP 25mg and 50mg had annual sales of $2.42 billion in the United States. The group now has 324 approvals and has so far filed over 428 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.