Zydus Cadila rises over a per cent on receiving USFDA tentative nod for cancer-treating drug
Zydus Cadila announced today that it has received tentative approval from USFDA to market Pemetrexed for injection in the strengths of 100 mg/vial, 500 mg/vial, and 1,000 mg/vial, single-dose vials.
It is used to treat certain types of cancers such as lung cancer and mesothelioma. It is a chemotherapy drug that works by slowing or stopping the growth of cancer cells. The drug will be manufactured at the formulation manufacturing facility at Zydus Hospira, Ahmedabad.
Zydus Cadila Group now has 319 approvals. It has, so far, filed over 400 ANDAs since the commencement of its filing process in FY 2003-04.
Reacting to this, the company’s stock today increased by 2.27 per cent and made an intraday high of Rs 631.75 per share. The stock of the company has increased by 74 per cent from its decline in June 2020.
Zydus Cadila is a global pharmaceutical company that discovers, develops, manufactures & markets a broad range of healthcare therapies.
According to BSE data, the stock traded at a P/E multiple of 42.84 and a price-to-book ratio of 4.96. The stock has a 52-week high and a 52-week low of Rs 673.70 and Rs 347.05, respectively.
At 12.52 pm, the stock of the company was trading at Rs 624.30, up by 1.07 per cent on BSE.