Zydus Lifesciences rises 5% on signing agreement with CVS Caremark; Details

Zydus Lifesciences shares gained 5.2 per cent in Tuesday's trade on BSE, logging an intraday high at Rs 1,012 per share. The buying in the stock sparked after the company inked an agreement with CVS Caremark. CVS Caremark will add Zydus’ ZituvioTM and combination products to its template formulary starting January 1, 2025. 

 

Around 11:49 AM, Zydus Lifesciences shares were up 5.32 per cent at Rs 1,012.95 per share on BSE. In comparison, the BSE Sensex was up 0.38 per cent at 78,264.28. The stock closed 4.10 per cent higher at Rs 1001.20 per share. The market capitalisation of the company stood at Rs 1,00,744.15 crore. The 52-week high of the stock stood at Rs 1,323.9 per share and the 52-week low of the stock stood at Rs 685.85 per share.

 

 

"Zydus Lifesciences Ltd., a global innovation-driven healthcare company announced that it has entered into an agreement with CVS Caremark, a CVS Health (NYSE: CVS) company to add ZituvioTM, ZituvimetTM, and ZituvimetTM XR (Sitagliptin | Sitagliptin and Metformin Hydrochloride) tablets to its template formulary," the filing read.

 

The Zituvio range of products contains active ingredients sitagliptin, a dipeptidyl peptidase-4 (DPP-4) inhibitor, and metformin hydrochloride (HCl), a biguanide, indicated as an adjunct to diet and exercise to improve glycemic control in adults with type 2 diabetes mellitus. 

 

"We are proud to have partnered with CVS Caremark, one of the most patient-centric healthcare solutions providers in the US, to further our commitment to improving access to high-quality medications to patients and meeting their healthcare needs with reduced outlays. This relationship is a strong validation of Zydus’ strategic investments in 505(b)(2) portfolio and will set the way for further strengthening our portfolio of differentiated products in the US market," said Punit Patel, President & CEO Zydus Pharmaceuticals USA Inc.  

Zydus Lifesciences Ltd. is global lifesciences company that discovers, develops, manufactures, and markets a broad range of healthcare therapies.

 

The group employs over 27,000 people worldwide, including 1,400 scientists engaged in research and development (R&D), and is driven by its mission to unlock new possibilities in lifesciences through quality healthcare solutions that impact lives. The group aspires to transform lives through pathbreaking discoveries. 

 

In the past one year, Zydus Lifesciences shares have gained 34.6 per cent against Sensex's rise of 8.2 per cent. 

Zydus Lifesciences Ltd. is global lifesciences company that discovers, develops, manufactures, and markets a broad range of healthcare therapies.