Zydus Lifesciences falls after USFDA classifies its`Jarod unit as `official action indicated`
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Zydus Lifesciences is currently trading at Rs. 1160.15, down by 25.15 points or 2.12% from its previous closing of Rs. 1185.30 on the BSE.
The scrip opened at Rs. 1165.00 and has touched a high and low of Rs. 1168.75 and Rs. 1151.00 respectively. So far 89918 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1203.20 on 11-Jul-2024 and a 52 week low of Rs. 564.05 on 25-Jul-2023.
Last one week high and low of the scrip stood at Rs. 1198.80 and Rs. 1151.00 respectively. The current market cap of the company is Rs. 116220.03 crore.
The promoters holding in the company stood at 74.98%, while Institutions and Non-Institutions held 18.22% and 6.79% respectively.
The US Food and Drug Administration (USFDA) has classified Zydus Lifesciences’ Jarod injectables manufacturing facility as ‘official action indicated’ (OAI), following an inspection. USFDA conducted inspection at the injectables manufacturing facility between April 15 and April 23, 2024.
As per the USFDA, OAI implies that the regulator may withhold approval of any pending product applications or supplements filed from such facility till the outstanding observations related to non compliance of manufacturing norms laid down by it.
The company will work closely with the agency to resolve the regulatory status of this facility expeditiously.
Zydus Lifesciences (formerly known as Cadila Healthcare) is an India-based pharmaceutical company.
