Zydus Lifesciences gains as its arm enters into licensing and supply agreement with Synthon BV
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Zydus Lifesciences is currently trading at Rs. 710.85, up by 2.00 points or 0.28% from its previous closing of Rs. 708.85 on the BSE.
The scrip opened at Rs. 711.05 and has touched a high and low of Rs. 726.65 and Rs. 710.70 respectively. So far 11645 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 726.65 on 19-Jan-2024 and a 52 week low of Rs. 421.50 on 27-Jan-2023.
Last one week high and low of the scrip stood at Rs. 726.65 and Rs. 685.85 respectively. The current market cap of the company is Rs. 71750.09 crore.
The promoters holding in the company stood at 74.98%, while Institutions and Non-Institutions held 18.03% and 6.99% respectively.
Zydus Lifesciences’ wholly owned subsidiary -- Zydus Worldwide DMCC has entered into an exclusive licensing and supply agreement with Synthon BV for Palbociclib Tablets (a generic version of IBRANCE) for the US market. Under the terms of this agreement, Synthon will be responsible for obtaining US regulatory approval for Palbociclib Tablets, and thereafter, for the manufacturing and supply of the product.
Zydus will be responsible for commercialization of the oncology product in the US. Synthon was the first sole ANDA applicant for Palbociclib Tablets, 75 mg, 100 mg, and 125 mg, with a paragraph IV certification and therefore may be eligible for 180 days of generic drug exclusivity for all three strengths.
Zydus Lifesciences (formerly known as Cadila Healthcare) is an India-based pharmaceutical company.
