Zydus Lifesciences rose 2.50% to Rs 454.30 after the company said it received final approval from US Food and Drug Administration (USFDA) to market Febuxostat tablets, 40 mg and 80 mg.
The approved Febuxostat tablets, 40 mg and 80 mg are equivalent to the reference listed drug Uloric tablets.
Febuxostat tablets are indicated to lower hyperuricemia (high uric acid in the blood) in patients with gout who have been treated with allopurinol that did not work well or cannot be treated with allopurinol.
Febuxostat tablets had annual sales of $32 million in the United States according to IQVIA data (IQVIA MAT Sept. 2022).
The drug will be manufactured at the group's formulation manufacturing facility at Moraiya, Ahmedabad, India.
As of 30 September 2022, the Zydus Group had 340 approvals and filed over 431 ANDAs since the commencement of the filing process in FY 2003-04.
Zydus Lifesciences is engaged in an integrated pharmaceutical company with business encompassing the entire value chain in the research, development, production, marketing and distribution of pharmaceutical products.
On consolidated basis, the company's net profit declined 82.6% to Rs 522.50 crore despite of 7.6% rise in revenue from operations to Rs 3,942.60 crore in Q2 FY23 over Q2 FY22.
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