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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Zydus Life shares rise 2% after USFDA nod for Eluxadoline tablets
Zydus Lifesciences shares surged nearly 2% to Rs 899.40 on the BSE on Monday after the company received final approval from the US Food and Drug Administration (USFDA) to manufacture Eluxadoline Tablets (75 mg and 100 mg).
Eluxadoline, a mu-opioid receptor agonist, is used to treat irritable bowel syndrome with diarrhea (IBS-D) in adults. The tablets will be manufactured at Zydus Lifesciences' SEZ facility in Ahmedabad, the company said in an exchange filing.
Zydus was among the first applicants to submit an Abbreviated New Drug Application (ANDA) with a Paragraph IV certification for Eluxadoline Tablets. With this approval, the company is eligible for 180 days of shared generic drug exclusivity for the product.
Eluxadoline tablets had annual sales of $243.7 million in the US.
The group now has 419 approvals and has filed 483 ANDAs as of December 31, 2024, since the commencement of the filing process in FY 2003-04.
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Also Read: Rating companies look for clues on IndusInd's health, control issues
Zydus Life: Target Price & Analyst Recommendations
According to Trendlyne data, the average target price for Zydus Life shares is Rs 1,066, indicating a 21% upside from current levels. The consensus recommendation from 31 analysts is 'Hold'.
Technically, the stock's Relative Strength Index (RSI) is at 41.2. According to Trendlyne, an RSI below 30 is considered oversold, while above 70 indicates overbought conditions. The MACD is at -17.8, below its center line, signaling a bearish trend.
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