Zydus gets USFDA approval for antipsychotic drug; stock trades flat

18 Jan 2024 , 02:08 PM

Zydus Lifesciences fell slightly in early trading on January 18 after the United States Food and Drug Administration approved a generic antipsychotic medication.

The company announced that it has obtained final approvals from the United States Food and Drug Administration (USFDA) for the production and commercialization of Pimavanserin Capsules, 34 mg, and Pimavanserin Tablets, 10 mg.

Pimavanserin is an atypical antipsychotic used to treat hallucinations and delusions associated with Parkinson’s disease psychosis. The tablets and capsules will be manufactured in the group’s Ahmedabad factory.

Since the filing procedure began in FY 2003-04, the pharma business has received 384 clearances and submitted over 448 ANDAs.

In December, its wholly-owned subsidiary, Zydus Life, got an income tax demand of Rs 284.58 crore from the CPC, Income Tax Department, according to section 143(1) of the IT Act for the assessment year 2023–2024.

At around 2.05 PM, Zydus Lifesciences was trading 0.23% lower at Rs 708.10, against the previous close of Rs 709.70 on NSE. The counter touched an intraday high and low of Rs 713.65 and Rs 686, respectively.

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