Zydus Lifesciences surges on getting USFDA`s final approval for Carbidopa and Levodopa Tablets
Zydus Lifesciences is currently trading at Rs. 495.50, up by 2.30 points or 0.47% from its previous closing of Rs. 493.20 on the BSE.
The scrip opened at Rs. 491.05 and has touched a high and low of Rs. 497.00 and Rs. 491.05 respectively. So far 19989 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 497.00 on 06-Apr-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. 497.00 and Rs. 484.05 respectively. The current market cap of the company is Rs. 50159.78 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 has received final approval from the United States Food and Drug Administration (USFDA) to manufacture and market Carbidopa and Levodopa Tablets USP, 10 mg/100 mg, 25 mg/100 mg, and 25 mg/250 mg (USRLD: Sinemet Tablets, 10 mg/100 mg, 25 mg/100 mg, and 25 mg/250 mg).
Carbidopa and Levodopa is used to treat symptoms of Parkinson's disease or Parkinson-like symptoms (such as shakiness, stiffness, difficulty moving). This medicine is also used to treat Parkinson symptoms caused by carbon monoxide, carbon monoxide poisoning or manganese intoxication. The product will be manufactured at the group’s formulation manufacturing facility in SEZ Ahmedabad, (India).
Carbidopa and Levodopa Tablets USP, 10 mg/100 mg, 25 mg/100 mg, and 25 mg/250 mg had annual sales of $75 million in the United States (IQVIA MAT Dec. 2022). The group now has 359 approvals and has so far filed over 440 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.