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Zydus Lifesciences Shares Trade Higher as Subsidiary Gains Rights for Paediatric Disease Drug

The company now has a total approval of 388 and has filed for over 460 ANDA.

Shares of Zydus Lifescience were trading in the green and 1% higher on 6 December after the company’s US subsidiary, Sentynl Therapeutics, assumed full responsibility for the development and commercialisation of CUTX-101 that is used in the treatment of Menkes disease.

The US arm of the company announced the execution of an assignment and assumption agreement with Cyprium Therapeutics, which is a subsidiary of Fortress Biotech. As a part of the agreement, Cyprium finished the transfer of its worldwide proprietary rights and the USFDA documents regarding the CUTX-101.

Matt Heck, CEO of Sentynl, said, “Menkes disease has a devastating impact on patients and their caregivers. With no current approved treatments, death usually occurs between 6 months and 3 years old. We are committed to advancing CUTX-101, which has the potential to become the first FDA-approved treatment for Menkes disease.”

In its quarterly report for July-September, the company reported a 53.2% year-on-year growth in consolidated net profit to Rs 800.7 crore for the quarter from Rs 522.5 crore reported in the same quarter last year.

The revenue increased by 5.6% YoY to Rs 4,368.8 crore during the September quarter from Rs 4,134.7 crore reported in the same quarter last year.

At 3:30 pm, the shares of Zydus Lifescience closed 0.0079% lower at Rs 634 on NSE.

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