Zydus Lifesciences hits 52 week high on getting USFDA`s final approval for Tavaborole Topical Solution

Zydus Lifesciences is currently trading at Rs. 503.50, up by 2.70 points or 0.54% from its previous closing of Rs. 500.80 on the BSE.

The scrip opened at Rs. 500.05 and has touched a high and low of Rs. 503.50 and Rs. 498.50 respectively. So far 15706 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 503.50 on 12-Apr-2023 and a 52 week low of Rs. 319.40 on 11-May-2022.

Last one week high and low of the scrip stood at Rs. 503.50 and Rs. 491.05 respectively. The current market cap of the company is Rs. 50858.20 crore.

The promoters holding in the company stood at 74.98%, while Institutions and Non-Institutions held 17.02% and 8.00% respectively.

Zydus Lifesciences has received final approval from the United States Food and Drug Administration (USFDA) to manufacture and market Tavaborole Topical Solution, 5% (USRLD: Kerydin Topical Solution).

Tavaborole topical solution is indicated to treat fungal toenail infections (infections that may cause nail discoloration, splitting, or pain). The drug will be manufactured at the group’s topical manufacturing facility at Changodar, Ahmedabad (India).

Tavaborole Topical Solution, 5% had annual sales of $3.1 million in the United States (IQVIA MAT Feb. 2023). The group now has 361 approvals and has so far filed over 440 ANDAs since the commencement of the filing process in FY 2003-04.

Zydus Lifesciences (formerly known as Cadila Healthcare) is an India-based pharmaceutical company.