Zydus Lifesciences gains after getting tentative approval for dyskinesia drug

Zydus Lifesciences rose 2.39% to Rs 419.10 after its U.S. subsidiary Zydus Pharmaceuticals (USA) Inc. received tentative approval from the United States Food and Drug Administration (USFDA) to market Amantadine extended-release capsules.

Amantadine is indicated for the treatment of dyskinesia (sudden uncontrolled movements) in patients with Parkinson's disease who are treated with levodopa therapy, with or without dopaminergic medicines.

The pharmaceutical company said that the drug will be manufactured at the group's formulation manufacturing facility at Ahmedabad SEZ, India.

According to IQVIA MAT August 2022 data, Amantadine Extended-Release Capsules had annual sales of $2.7 million in the United States.

The group now has 325 approvals and has so far filed over 428 ANDAs since the commencement of the filing process in FY 2003-04.

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

The company's consolidated net profit fell 11.7% to Rs 518.3 crore on a 1.8% increase in total income from operations to Rs 4,072.7 crore in Q1 FY23 over Q1 FY22.

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