HomeMarketsMarket InsightZydus Lifesciences hits 52-week high on USFDA approval for Osteoporosis drug

Zydus Lifesciences hits 52-week high on USFDA approval for Osteoporosis drug

The Zydus Lifesciences share price reached a 52-week high in early trading on April 29 after the company announced receiving final approval for an osteoporosis drug from the United States Food and Drug Administration (USFDA).

The American drug regulator granted Zydus Lifesciences final approval to manufacture and market Estradiol Transdermal System USP. Estradiol transdermal will be manufactured at the group’s facility in Moraiya, Ahmedabad, for the prevention of postmenopausal osteoporosis.

In the United States, Estradiol Transdermal System USP, 0.014 mg/day (weekly), had annual sales of $1.9 million.

The group now has 363 approvals and has filed over 440 ANDAs since the filing process began in 2003-04, according to the company.

Zydus Lifesciences reached a 52-week high of Rs 519.70 and was trading up Rs 0.55, or 0.11 percent, at Rs 516.30 on the BSE.

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