Zydus Lifesciences rose 3% to an intra-day high of Rs 930 after the company received approval from the US FDA to manufacture Apalutamide Tablets, 60 mg. However, the stock came off highs to trade 0.9% up at Rs 910.40, around 2 PM.
“Zydus Lifesciences Limited (including its subsidiaries/ affiliates, hereafter referred to as “Zydus”) has received final approval from the United States Food and Drug Administration (USFDA) to manufacture Apalutamide Tablets, 60 mg (Erleada® Tablets, 60 mg),” said the company in an exchange filing.
Apalutamide is a drug that inhibits androgen receptors and is approved for treating individuals with metastatic castration-sensitive prostate cancer. Apalutamide tablets will be produced at Zydus Lifesciences (SEZ), Ahmedabad. Apalutamide tablets had annual sales of $1,099.8 million in the United States.
Zydus Lifesciences Q3 result
The company reported a consolidated net profit jump of 30% year-on-year to Rs 1,024 crore in the third quarter of FY25. Its revenue from operations climbed 17% to Rs 5,269 crore, which was driven by a 31% rise in the company’s top market – the United States. In the same quarter a year ago, it reported a net profit of Rs 4505 crore. On QoQ revenue grew 0.6%.
Zydus Lifesciences Vs Nifty 50
The share price of Zydus Lifesciences has risen by 1.8% in the past five trading sessions. The stock has given a return of 2% in the last one year. However, the stock has fallen 14% in the past six months. The stock has declined by 6% in the last one year.
To compare, the benchmark index, Nifty 50 has risen by almost 2% in the last five days. The index has fallen 0.1% in the past one month and 10% in the last six months. The index has given a return of 5% in the previous one year.