Zydus Lifesciences gains 5% on USFDA nod for cancer drug

The plerixafor injection, used by patients with certain types of cancer to prepare them for a stem cell transplant, will be manufactured at the group’s facility in Ahmedabad

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Zydus Lifesciences shares gained 5 percent to touch a 52-week high of Rs 654 on July 27 after the pharma company received final approval from the United States Food and Drug Administration (USFDA) for plerixafor injection.

Zydus Lifesciences got the American health regulator’s nod for 24 mg/1.2 mL (20 mg/mL) single-dose vial of plerixafor injection used by patients with certain types of cancer (non-Hodgkin’s lymphoma and multiple myeloma) to prepare them for a stem-cell transplant.

The drug will be manufactured at the group’s injectable manufacturing facility in Gujarat’s Ahmedabad.

The group now has 374 approvals and has far filed over 442 ANDAs since the commencement of the filing process in FY 2003-04, the company said.

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Bayer Zydus Pharma Private Limited, a joint venture between Zydus Lifesciences and Bayer (South East Asia) PTE Limited, entered into an agreement to set up a joint venture company for marketing pharmaceutical products.

The agreement is to amend certain clauses of the joint venture agreement (JVA) to enable participation in tenders of some government institutions / public sector undertakings for some products through an affiliate entity of a JV Partner, it said.

At 1.30 pm, the share was trading at Rs 655 on the National Stock Exchange, up 5.15 percent from the previous close.