Zydus Lifesciences shares gain on final nod for Ammonium Lactate Cream

Zydus Lifesciences

Zydus Lifesciences’ share price rose in the early trade on February 16 after the company received final approval from the United States Food and Drug Administration (USFDA) for its Ammonium Lactate Cream, 12%.

At 09:22am, Zydus Lifesciences was quoting at Rs 912.20, up Rs 7.35, or 0.81 percent, on the BSE.

Ammonium lactate cream is a topical prescription medication indicated for the treatment of dry, scaly skin (xerosis) and an inherited dry skin condition called ichthyosis vulgaris.

It is used to moisturise the skin by increasing hydration and, as an alpha-hydroxy acid, helps relieve itching, soften skin, and decrease skin scaling.

The cream will be manufactured at the group’s topical manufacturing site at Changodar, Ahmedabad, and distributed by Viona Pharmaceuticals Inc.

The group now has 430 approvals and has so far filed 505* ANDAs since the commencement of the filing process in FY 2003-04.

Catch all the market action on our live blog

Last week, the company and its US subsidiary agreed to pay $120 million to Astellas Pharma as part of a settlement to resolve a patent dispute related to the Japanese drugmaker’s bladder disorder drug, Mirabegron

Zydus and its unit will also pay a pre-paid per‑unit licensing fee on sales of its generic Mirabegron in the US from the date of the agreement until September 2027, the company said.

The deal will enable the company to continue marketing its generic Mirabegron in the United States, Zydus said, adding that other terms and conditions of the agreement are confidential.

The company had reported 1.8 percent rise in December quarter net profit to Rs 1042.1 crore, while revenue from operations surged 30 percent YoY to Rs.6864.5 crore.