Zydus Healthcare

Firm will focus on animal-free protein production

Zydus Lifesciences Ltd on Friday announced an exclusive licensing and supply agreement with MSN Laboratories for generic cancer treatment drug Cabozantinib tablets, for the US market. The company's wholly-owned subsidiary, Zydus Lifesciences Global FZE, has entered into an exclusive licensing and supply agreement with MSN Laboratories for Cabozantinib tablets for the US market, Zydus Lifesciences Ltd said in a regulatory filing. Cabozantinib tablet is the generic version of CABOMETYX of Exelixis. Under the agreement, MSN Laboratories will be in charge of manufacturing and supplying the generic version of CABOMETYX, following the receipt of regulatory approval, the company said. Zydus will exclusively market, distribute, and sell the product in the US market, it added. "MSN was a first sole ANDA (abbreviated new drug application) applicant for Cabozantinib tablets, to submit a substantially complete ANDA with a paragraph IV certification and therefore may be eligible for 180 days o

For the full year of FY24, the company posted a 14 per cent Y-o-Y decline in PAT and the revenue grew by 3.2 per cent reaching Rs 266.9 crore and Rs 2,327.8 crore respectively

Zydus Wellness Ltd on Tuesday reported a 3.44 per cent rise in consolidated net profit at Rs 150.3 crore in the fourth quarter ended March 31, 2024. The company had posted a consolidated net profit of Rs 145.3 crore in the same quarter of the previous fiscal, Zydus Wellness said in a regulatory filing. Consolidated total revenue from operations in the quarter under review stood at Rs 782.6 crore, as against Rs 713 crore in the corresponding period a year ago, it said. Total expenses were higher at Rs 632.2 crore in the fourth quarter of financial year 2023-24, as compared to Rs 580.2 crore in the year-ago period. For the fiscal ended March 31, 2024 consolidated net profit was at Rs 266.9 crore, as against Rs 310.4 crore in the previous fiscal, the company said. In FY24, consolidated total revenue from operations stood at Rs 2,327.8 crore, as compared to Rs 2,254.8 crore in FY23. The board of directors at their meeting held on May 14, 2024 recommended a final dividend Rs 5 per equ

Zydus Lifesciences on Tuesday said its offer to buy back 59.7 lakh shares at Rs 1,005 apiece, aggregating to Rs 600 crore, will open on February 29. The share repurchase programme will close on March 6, 2024, the drug firm said in a regulatory filing. The company proposed to buy back up to 59,70,149 shares at Rs 1,005 apiece for an aggregate consideration not exceeding Rs 600 crore, it stated. Shares of the company were trading 0.38 per cent up at Rs 946.15 apiece on the BSE.

Zydus Lifesciences Ltd on Friday said it has received final approval from the US health regulator to manufacture and market its generic Isosorbide Mononitrate extended-release tablets used to prevent chest pain in patients with a certain heart condition. The approval by the US Food and Drug Administration (USFDA) is to manufacture and market Isosorbide Mononitrate Extended-Release, of strengths 30 mg, 60 mg, and 120 mg, Zydus Lifesciences said in a regulatory filing. Isosorbide mononitrate is used to prevent chest pain (angina) in patients with a certain heart condition, coronary artery disease, it added. The product will be manufactured at the group's formulation manufacturing facility at Ahmedabad SEZ, the company said. Isosorbide Mononitrate extended-release tablets 30 mg, 60 mg, and 120 mg had annual sales of USD 47 million in the US, Zydus said citing IQVIA December 2023 data. PTI RKL.

Indian generic drugmaker Zydus Lifesciences reported a bigger-than-expected rise in third-quarter profit on Friday, driven by strong sales in its domestic and overseas markets

Zydus Group on Friday announced plans to invest Rs 5,000 crore in Gujarat in various sectors, including new generation biotechnology products and hospitals, its Chairman Pankaj Patel said. Speaking at the 10th Vibrant Gujarat Global Summit here, Patel said his group has signed Memoranda of Understanding (MoUs) with the state for the investments. "We have signed MoUs of over Rs 5,000 crore. We'll be investing into next generation biotechnology products, new medical device initiatives and hospitals for the healthcare sector," he said. Patel said he has been attending the biennial summit since its inception and thanked Prime Minister Narendra Modi and Union Home Minister Amit Shah for helping businesses when it needs it the most. He said business needs leadership with a vision and the one that pushes it to think bigger, which is offered in Gujarat. Earlier, Nayara Energy's head of refinery Prasad Panicker said the company will be expanding its refinery at Vadinar and also upping its

Zydus Lifesciences on Tuesday said its arm Zydus Healthcare Ltd has been served an income tax notice demand of Rs 284.58 crore for for the assessment year 2023-2024. Zydus Healthcare Ltd (ZHL), a wholly-owned subsidiary, has received an intimation under section 143(1) of the Income Tax Act, 1961 (IT Act), determining demand of Rs 284.58 crore, Zydus Lifesciences said in a regulatory filing. The intimation is for the assessment year 2023-2024 from the CPC, Income Tax Department, it added. The demand is determined due to "apparent mistakes while processing its return of income", it said. "The company strongly believes that once the rectification will be made, the entire demand will be deleted," Zydus Lifesciences said. ZHL has already disagreed with demand on the e-filing portal of the Income Tax Department. It is also going to file Rectification Application under section 154 of the IT Act, before the CPC as well as before the Jurisdictional Assessing Officer against the said ...

Zydus Lifesciences on Saturday said it has received approval from the US health regulator to market a generic anti-epileptic medication. The company has received approval from the US Food and Drug Administration (USFDA) to manufacture and market Lacosamide Tablets in multiple strengths, the drug firm said in a statement. Lacosamide is indicated to treat partial-onset seizures. It is also used with other medicines to treat primary generalized tonic-clonic seizures. The company said it will manufacture the product at the group's formulation manufacturing facility in Moraiya, Ahmedabad. As per IQVIA data, Lacosamide Tablets had annual sales of USD 249 million in the US.

Daewoong will leverage its proprietary technology to produce Leuprolide Acetate for Depot Suspension in its manufacturing facilities located in Osong, South Korea

Zydus argued that Cipla started branding its Glucose product under Gluco C ++ and Gluco D ++, in order to create confusion in the minds of customers

Impact in US among the worst in the past 10 years

Zydus Lifesciences Ltd on Friday said it has launched the generic version of sitagliptin in India under the brand names Sitaglyn and Siglyn to address type 2 diabetes.

Zydus Lifesciences on Tuesday said its chairman Pankaj R Patel has been appointed as a part time non-official director in the central board of the Reserve Bank of India (RBl). The Appointments Committee of the Cabinet (ACC) has approved the proposal of appointment of Patel for a period of four years from the date of notification of his appointment, or until further orders, whichever is earlier, the drug maker said in a statement. Patel is already on the board of various institutions, including Invest India, Member of the Mission Steering Group (MSG) -- the highest policy making and steering body constituted under National Health Mission (NHM), and of the Drug Technical Advisory Board by the ministry of health & family welfare, it added. He is also the chairman of the Board of Governors and Society, IIM, Udaipur and a member of the Board of Governors of the Indian Institute of Management (IIM), Ahmedabad. Patel was also the president of the Federation of Indian Chamber of Commerce

Zydus Lifesciences on Wednesday said it has received approval from the US health regulator to market Nitroglycerin Sublingual tablets, used to treat chest pain, in the American market.

Both drugs, Mifegest Cytolog are used for medical termination of pregnancy

Multiples' deal ticket size in the first fund was only $30 million and in the second around $50 million

Drug firm Zydus Cadila on Thursday said it has received final approval from the US health regulator to market Ibrutinib Capsules, used to treat certain cancers

Indian drug firms like Marksans Pharma, Aurobindo Pharma, Zydus and Jubilant are recalling products in the US market, as per the latest enforcement report by the USFDA