Zydus Lifesciences has received the approval of the United States Food and Drug Administration (USFDA) to market Lenalidomide, a cancer drug, the pharma firm told stock exchanges.
The company, formerly known as Cadila Healthcare, got the nod for 5 mg, 10 mg, 15 mg and 25 mg strengths and tentative approvals for 2.5 mg and 20 mg strength.
Lenalidomide is used to treat various types of cancers. It works by slowing or stopping the growth of cancer cells. It is also used to treat anaemia in patients with certain blood or bone marrow disorders (myelodysplastic syndromes, or MDS).
“We remain focused on providing patients access to affordable medication and USFDA approval of Lenalidomide Capsules, an important oncology therapy product is yet another step in this endeavour,'' said Dr Sharvil Patel, Managing Director, Zydus Lifesciences.
The drug will be manufactured at the group’s formulation manufacturing facility at Ahmedabad.
Shares of Zydus Lifesciences recovered sharply from day’s low following the announcement. At 12.30 pm, the stock was trading flat at Rs 376 on the NSE.
In 2022, the stock has shed 21 percent. Analysts are not too positive on the stock. For Macquarie, Zydus Lifesciences is among the least preferred stocks in the pharma pack, along with Alkem Labs, IPCA Laboratories and Aurobindo Pharma.