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Zydus Lifesciences Surges 2% as US FDA Grants Final Approval for Heart Drug Ivabradine

1 Dec 2023 , 03:13 PM

Zydus Lifesciences experienced a 2% surge on December 1 following the US Food and Drug Administration's final approval for a heart drug. Ivabradine, the approved drug, reduces the risk of hospitalization for worsening heart failure in adult patients with stable, symptomatic chronic heart failure featuring reduced left ventricular ejection fraction. 

Zydus Lifesciences traded at Rs 640.50 on the NSE at 3:10 pm, reflecting a 0.46% increase from the previous session's closing price. The drug Ivabradine is also indicated for children aged 6 months and older for treating stable symptomatic heart failure due to cardiomyopathy. 

The manufacturing of the drug will take place at Zydus Lifesciences' formulation facility in Ahmedabad. The company may be eligible for 180 days of shared generic exclusivity for Ivabradine Tablets, 5 mg, and 7.5 mg, as it was among the first abbreviated new drug application (ANDA) applicants with a substantially complete ANDA featuring a paragraph IV certification for Ivabradine Tablets, 5 mg, and 7.5 mg, according to Zydus Life's filing with the bourses. 

The stock has witnessed a 52.5% gain this year, outperforming Nifty's 11.42% rise during the same period.

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