Zydus Lifesciences share price zooms 4% on USFDA nod for Parkinson's drug

Zydus Life share price today: Zydus Lifesciences share price soared up to 3.8 per cent at Rs 1156.45 per share on the BSE in Wednesday’s intraday deals. Zydus Life’s share price zoomed after the company received regulatory drug approval from the United States Food and Drug Administration (USFDA).

The company bagged authorisation to market Amantadine extended-release capsules, 68.5 mg, and tentative approval for 137 mg. The drug is a generic copy of US reference listed drug Gocovri.  

Amantadine extended-release capsules are indicated for the treatment of dyskinesia in patients with Parkinson’s disease receiving levodopa-based therapy, with or without concomitant dopaminergic medications. 

The drug will be manufactured at the group’s formulation manufacturing facility in Ahmedabad SEZ - II, India, the company said in an exchange filing on Tuesday. 

The approval makes Zydus eligible for 180 days of exclusivity for Amantadine extended release capsules, 68.5 mg. The Zydus group now has 400 approvals and has so far filed over 465 new drug applications  since the commencement of the filing process in FY 2003-04, the company said. 

Q1FY25 show

For the April-June quarter of financial year 2024-25 (Q1FY25) Zydus Lifesciences reported a 31 per cent increase in consolidated net profit to Rs 1,420 crore driven by strong sales.

The company's revenue from operations also rose to Rs 6,207 crore, up from Rs 5,140 crore in the same quarter last year. India sales grew 15 per cent to Rs 2,212 crore, while US formulation sales jumped 26 per cent to Rs 3,093 crore on a year on year basis. 

The company has a total market capitalisation of Rs 1.13 trillion. Its shares are trading at a price to earnings multiple of 25.70 times with an earning per share of Rs 43.34. 

The stock price of the company has zoomed 61.8 per cent year to date, while soaring 78.4 per cent in the last one year.

At 09:54 AM the shares of the company pared gains slipping into red and were trading 1.49 per cent higher at Rs 1130.45 per share. By comparison the BSE Sensex was down 0.03 per cent at 81,683 levels.