Zydus Lifesciences up marginally despite 4 observations from USFDA

USFDA inspected Zydus Lifesciences’ Onco injectable manufacturing plant in Ahmedabad from March 18 to 27

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Zydus Lifesciences share price was up marginally in the early trade on March 28 despite the company receiving four observations from United States Food and Drug Administration (USFDA).

At 9.31 am, Zydus Lifesciences was quoting at Rs 1,005, up Rs 5.40, or 0.54 percent, on the BSE.

USFDA inspected at firm’s Onco Injectable manufacturing plant in Ahmedabad from March 18 to 27. The inspection closed with four observations and there were no data integrity related observations, company said.

The company will closely work with the USFDA to address the observations, it added.

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Broking house Sharekhan in a report on March 20 maintained a “buy” rating on the stock with an increased price target of Rs 1,100.

On March 23, the company received tentative approval from the USFDA to market Letermovir tablets, 240 mg and 480 mg and on March 16, the company received final approval from the USFDA to market Finasteride and Tadalafil Capsules USP 5 mg/5 mg.

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