Zydus Lifesciences edges higher on getting nod for new drug application of Desidustat Tablets
Zydus Lifesciences is currently trading at Rs. 960.45, up by 1.00 points or 0.10% from its previous closing of Rs. 959.45 on the BSE.
The scrip opened at Rs. 960.55 and has touched a high and low of Rs. 965.00 and Rs. 945.05 respectively. So far 26965 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1031.30 on 01-Apr-2024 and a 52 week low of Rs. 482.55 on 22-May-2023.
Last one week high and low of the scrip stood at Rs. 965.60 and Rs. 913.25 respectively. The current market cap of the company is Rs. 96885.24 crore.
The promoters holding in the company stood at 74.98%, while Institutions and Non-Institutions held 18.35% and 6.66% respectively.
Zydus Lifesciences has received approval from National Medical Products Administration of China (NMPA) for New Drug Application (NDA) of Desidustat Tablets. CMS International Development and Management, a wholly-owned subsidiary of China Medical System Holdings (CMS) obtained an exclusive license for the Product from Zydus in 2020.
Desidustat, administered orally is a novel, oral Hypoxia-Inducible Factor-Prolyl Hydroxylase Inhibitor (HIF-PHI) for treating anaemia in Chronic Kidney Disease (CKD) patients. CKD involves the gradual loss of functioning of kidneys and eventually leads to kidney failure. Healthy kidneys naturally secrete a hormone called Erythropoietin (EPO), which stimulates red blood cell production also known as erythropoiesis. When kidneys are impaired as in patients suffering from Chronic Kidney Disease, EPO production is impaired, leading to development of anaemia. HIF-PHI promotes erythropoiesis through increasing endogenous erythropoietin, reducing hepcidin thereby improves iron availability.
Zydus Lifesciences (formerly known as Cadila Healthcare) is an India-based pharmaceutical company.
