ZIM Laboratories gains as its arm gets nod to market ‘Azithromycin for Oral Suspension’ in Portugal
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ZIM Laboratories is currently trading at Rs. 112.00, up by 1.95 points or 1.77% from its previous closing of Rs. 110.05 on the BSE.
The scrip opened at Rs. 112.50 and has touched a high and low of Rs. 113.10 and Rs. 109.80 respectively. So far 5196 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 151.75 on 04-Aug-2023 and a 52 week low of Rs. 89.90 on 13-Mar-2024.
Last one week high and low of the scrip stood at Rs. 115.30 and Rs. 104.80 respectively. The current market cap of the company is Rs. 535.98 crore.
The promoters holding in the company stood at 33.26%, while Non-Institutions held 66.73% in the company.
ZIM Laboratories’ wholly owned European Subsidiary -- SIA ZIM Laboratories has received Marketing Authorisation (MA) from INFARMED (Portugal) -- Portuguese National Authority of Medicines and Health Products for one of ZIM’s New Innovative Products (NIP) ‘Azithromycin for Oral Suspension 200 mg/5ml’ in Portugal.
This is the 1st Marketing Authorisation for ZIM for its New Innovative Products for Europe. Azithromycin Oral Suspension is differentiated in taste masked suspension dosage form which benefits patients who have difficulty in swallowing and children who have difficulty with bitter taste. According to IQVIA, the EU market size for this product in 2022 was around $300 million. Additionally, other target markets for ZIM such as SE Asia & Oceania, Latin America and MENA have a combined market size of around $900 million.
ZIM Laboratories manufactures, formulates, and distributes drug delivery systems to develops generic pharmaceutical products.
