The fall in the stock came after the company announced that it has secured an Official Action Indicated (OAI) report from the United States Food and Drug Administration (USFDA).
SI Reporter New Delhi
The fall in the stock came after the company announced that it has secured an Official Action Indicated (OAI) report from the United States Food and Drug Administration (USFDA).
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In an exchange filing, Zydus Life said, “We wish to inform that the Company has received a report from the United States Food and Drug Administration (USFDA) for the inspection conducted at its injectables manufacturing facility located at Jarod, near Vadodara, Gujarat, India between April 15 and April 23, 2024. The USFDA has determined that the inspection classification of this facility is “Official Action Indicated” (OAI).”
The USFDA inspected the Jarod-based injectables manufacturing facility between April 15 and April 2, 2024.
“The company will work closely with the agency to resolve the regulatory status of this facility expeditiously,” Zydus Life said in a statement.
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 the company is Rs 1,16,879.11 crore, according to Bombay Stock Exchange (BSE).
The 52-week high of the stock is Rs 1,203.20 per share while its 52-week low of Rs 564.05 apiece.
At 10:50 AM, shares of Zydus Life were trading 2 per cent lower at Rs 1,161.55 per share. In comparison, BSE Sensex was trading 0.30 per cent lower at 81,098.05 levels.