Zydus Life gains over 2% on securing nod from COFERRIS to market Mamitra

The uptick in the stock price came after the pharmaceutical company announced that it has secured an approval from COFEPRIS of Mexico to market Mamitra to treat various cancers.

Zydus Life in focus: Pharmaceutical major Zydus Life shares soared as much as 2.45 per cent to hit an intraday high of Rs 1,248.60 per share on Wednesday, July 31.

The uptick in the stock price came after the pharmaceutical company announced that it has secured an approval from COFEPRIS of Mexico to market Mamitra (Trastuzumab biosimilar) to treat various cancers.

In an exchange filing, Zydus Life said, “Zydus receives approval from COFEPRIS of Mexico to market Mamitra™ (Trastuzumab biosimilar) to treat various cancers.”

The drug will be marketed in different strengths of 150 mg and 440 mg and used in the treatment of patients with HER2 overexpressing metastatic breast cancer (MBC), HER2 overexpressing early breast cancer (EBC) and advanced gastric cancer, the company said. 

Notably, breast cancer has become the most diagnosed cancer in Mexico, overtaking prostate and colorectal cancers. 

“The approval of MamitraTM in Mexico allows us to expand the reach of our biosimilar portfolio to newer markets and enable access to affordable life-saving therapies, particularly in oncology. Our commitment to science, health and innovation helps us bridge unmet healthcare needs of patients globally,” said Sharvil Patel, managing director, Zydus.

Zydus had developed and launched the Trastuzumab biosimilar developed in-house by the research team at the Zydus Research Centre (ZRC) in 2016 in India under the brand name Vivitra.  Since then, an estimated 1,00,000 patients have been treated with the therapy. With twelve lifesaving biosimilars already launched in the market, Zydus has been bridging the unmet need for affordable therapies in the fight against cancer in India.

Zydus Lifesciences Ltd, previously known as Cadila Healthcare Ltd, is a global company in the life sciences sector. It focuses on discovering, developing, manufacturing, and marketing healthcare therapies. The company’s portfolio includes a range of products: finished dosage human formulations (such as generics, branded generics, specialty formulations including biosimilars and vaccines), active pharmaceutical ingredients (APIs), animal healthcare products, and consumer wellness products.

Zydus Life’s therapies cover various medical areas including gastrointestinal, cardiovascular, respiratory, pain management, cancer, inflammation, neurology, and women's health. 

Operating globally, the company has established markets in the US, Europe, South Africa, Japan, Brazil, and other emerging markets. Zydus Lifesciences is headquartered in Ahmedabad, Gujarat, India.  

The market capitalisation of Zydus Life is Rs 1,24,928.98 crore, according to Bombay Stock Exchange (BSE). 

At 12:31 PM, Zydus Life shares were trading 1.88 per cent higher at Rs 1,241.55 per share. In comparison, BSE Sensex was trading 0.27 per cent higher at 81,674.87 levels.