Zydus Life hits a new high
Zydus Lifesciences is a bright star today morning; from its close of yesterday at Rs.515.75, it opened itself at a new 52-week high today at Rs.519.70 and is currently just about holding on to the green.
The stock hit a new high on its announcement that it has received final approval from the United States Food and Drug Administration (USFDA) to manufacture and market Estradiol Transdermal System USP, 0.014 mg/day (weekly).
Estradiol transdermal system is indicated for prevention of postmenopausal osteoporosis.
The drug will be manufactured at the group’s formulation manufacturing facility in Moraiya, Ahmedabad.
Estradiol Transdermal System USP, 0.014 mg/day (weekly) had annual sales of USD 1.9 mn in the United States (IQVIA MAT Feb. 2023).
The group now has 363 approvals and has so far filed over 440 ANDAs since the commencement of the filing process in FY 2003-04.