Zydus Hospira Oncology a 50:50 joint venture (JV) company between Zydus Cadila
and Hospira Inc. at Ahmedabad has received an Establishment Inspection Report (EIR) from the USFDA.
The EIR concluded that the inspection on this facility is closed with 'Voluntary Action Indicated' (VAI) status. This manufacturing plant had undergone USFDA audit between April 5-12, 2018.
The JV between Hospira and Zydus Cadila started operations in 2019 with the manufacturing of injectable cytotoxic drugs. As per news reports, the JV produces docetaxel, which is sold in the US and Australia. As per Cadila’s 2017 annual report, the company claimed a net profit of Rs28.6cr from this JV.
Hospira was acquired by Pfizer in 2015 due to which this JV is now with Pfizer Inc.
Cadila Healthcare ended the day at Rs366.70, down Rs4.8, or 1.29%, from its previous close of Rs371.50 on the BSE.