Zydus Lifesciences shares hit record high after USFDA approvals for heart failure and MS drugs.

From Business Today: 2024-07-10 07:08:15

Shares of Zydus Lifesciences Ltd surged 4.98% to an all-time high of Rs 1,190 before settling at Rs 1,180.40. The stock has gained 69.05% YTD.

The rise came after USFDA approvals for sacubitril and valsartan tablets. The drug treats chronic heart failure and had annual US sales of $5,483 million.

Additionally, Zydus secured tentative USFDA approval for Diroximel Fumarate Delayed-Release Capsules, used to treat multiple sclerosis in adults.

Zydus currently has 398 approvals and a market capitalization of Rs 1,18,775.86 crore as of March 2024.

Promoters hold a 74.98% stake in the company. Trading volume on BSE was below average today at 45,000 shares with a turnover of Rs 5.21 crore.



Read more at Business Today: Zydus Lifesciences shares jump 5% from intraday low to hit record high; here’s why