Zydus Lifesciences hits 52-week high despite receiving 4 USFDA observations

28 Mar 2024 , 02:56 PM

Despite getting four observations from the United States Food and Drug Administration (USFDA), Zydus Lifesciences' share price increased to new 52-week high in afternoon trading session on March 28.

At around 2.43 PM, Zydus Lifesciences was trading 1.35% higher at ₹1,013.15 per piece, against the previous close of ₹999.70 on NSE. The counter touched a new 52-week high of ₹1,021 in today’s session.

From March 18 to 27, the USFDA examined the firm's Onco Injectable production factory in Ahmedabad. The examination concluded with four findings, none of which related to data integrity, according to the business.

The business would work together with the USFDA to resolve the concerns, it added.

On March 23, the company acquired provisional permission from the USFDA to sell Letermovir tablets, 240 mg and 480 mg, and on March 16, the company received final approval to market Finasteride and Tadalafil Capsules USP 5 mg/5 mg.

Zydus Lifesciences Ltd (Zydus Lifesciences), previously Cadila Healthcare Ltd, is a fully integrated worldwide healthcare supplier. It finds, develops, produces, and commercialises a variety of healthcare goods. The company's product offerings include active pharmaceutical ingredients (APIs), formulations, wellness, and animal health solutions.

Zydus Group is located in Ahmedabad, India, and is ranked fourth in the Indian pharmaceutical business. The business has production and research facilities in five Indian states (Gujarat, Maharashtra, Goa, Himachal Pradesh, and Sikkim), as well as the United States and Brazil.

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