Zydus Lifesciences rises on securing Orphan Drug Designation for Usnoflast to treat ALS
Zydus Lifesciences is currently trading at Rs. 990.45, up by 11.60 points or 1.19% from its previous closing of Rs. 978.85 on the BSE.
The scrip opened at Rs. 981.95 and has touched a high and low of Rs. 996.75 and Rs. 976.65 respectively. So far 8817 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1323.90 on 09-Aug-2024 and a 52 week low of Rs. 726.80 on 24-Jan-2024.
Last one week high and low of the scrip stood at Rs. 1013.35 and Rs. 963.80 respectively. The current market cap of the company is Rs. 99732.88 crore.
The promoters holding in the company stood at 74.98%, while Institutions and Non-Institutions held 18.18% and 6.84% respectively.
The USFDA has granted Orphan Drug Designation (ODD) to Zydus Lifesciences’ Usnoflast, a novel oral NLRP3 inhibitor, for the treatment of amyotrophic lateral sclerosis (ALS). The USFDA's Office of Orphan Drug Products grants orphan status to support development of medicines for the treatment of rare diseases that affect fewer than 200,000 people in the United States.
Orphan drug designation by USFDA for Usnoflast, provides eligibility for certain development incentives, including tax credits for qualified clinical testing, prescription drug user fee exemptions and a potential seven-year marketing exclusivity upon FDA approval.
Usnoflast (ZYIL1) is a novel, oral small molecule NLRP3 inhibitor. Usnoflast has been studied in several pre-clinical models of neuroinflammation, Parkinson’s disease, Inflammatory Bowel Disease (IBD) and Multiple Sclerosis (MS). The USFDA has earlier granted Zydus an ‘Orphan Drug Designation’ for Usnoflast to treat patients with Cryopyrin Associated Periodic Syndrome (CAPS), a rare auto-inflammatory disease.
Zydus Lifesciences (formerly known as Cadila Healthcare) is an India-based pharmaceutical company.
