Zydus Lifesciences rose 1.45% to Rs 368.35 after the company announced that it will be manufacturing and supplying Sagent's Caffeine Citrate Oral Solution in the strength of 60 mg per 3 mL single-dose vial from its injectables facility at Jarod.
Zydus Lifesciences, formerly known as Cadila Healthcare, announced that it received the Prior Approval Supplement (PAS) approval from the US-based drug regulatory body, United States Food and Drug Administration (USFDA), which allows for a site transfer and manufacturing of the drug at Jarod, Gujarat.
A Prior Approval Supplement (PAS) is an application which seeks to make changes to an already approved application, such as an Abbreviated New Drug Application (ANDA), which is used by the USFDA to approve generic drugs.
This product is indicated for the short-term treatment of a breathing problem (Apnea) in premature infants. Caffeine blocks certain proteins (adenosine receptors) which leads to improved breathing in these infants.
Sagent Pharmaceuticals, Inc. (Sagent) is a Nichi-Iko Group company, is a specialty pharmaceutical company focused on developing, manufacturing, sourcing, and marketing pharmaceutical products for the North American market, with a specific emphasis on injectables.
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On a consolidated basis, Zydus Lifesciences' net profit fell 5.08% to Rs 500.40 crore on 0.61% increase in revenue from operations to Rs 3,655 crore in Q3 FY22 over Q3 FY21.
Zydus Lifesciences is a discovery-driven, global lifesciences company that discovers, develops, manufactures, and markets a broad range of healthcare therapies.
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