Zydus Lifesciences surges on launching Relugolix
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Zydus Lifesciences is currently trading at Rs. 757.00, up by 8.15 points or 1.09% from its previous closing of Rs. 748.85 on the BSE.
The scrip opened at Rs. 749.15 and has touched a high and low of Rs. 760.00 and Rs. 749.15 respectively. So far 20828 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 760.00 on 30-Jan-2024 and a 52 week low of Rs. 425.05 on 03-Feb-2023.
Last one week high and low of the scrip stood at Rs. 760.00 and Rs. 726.80 respectively. The current market cap of the company is Rs. 76441.66 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 has launched Relugolix under the brand name, Rexigo. This is the first and only oral once-a-day therapy for testosterone suppression in patients with advanced prostate cancer in India. Though Relugolix was available in developed countries since the last four years, patients in India did not have access to it.
With this launch, Zydus brings both access to a critical therapy and also makes it affordable at a cost of Rs 6995 per month which is 50% less than the currently available injectable options. The drug will be manufactured at the group’s manufacturing premises. This marks a big leap forward in the management of prostate cancer as patients and doctors will have a new option which can offer convenience, safety and rapid action.
Zydus Lifesciences (formerly known as Cadila Healthcare) is an India-based pharmaceutical company.
