The approval covers Apalutamide tablets of 60 mg strength, the company said in a regulatory filing. The drug will be manufactured at Zydus Lifesciences’ SEZ facility in Ahmedabad.
Apalutamide, an androgen receptor inhibitor, is prescribed for patients with metastatic castration-sensitive prostate cancer. It had annual US sales of $1,099.8 million, according to IQVIA MAT January 2025 data.
Last week, Zydus Lifesciences also received USFDA approval to manufacture Eluxadoline tablets (75 mg and 100 mg), used to treat irritable bowel syndrome with diarrhea in adults. These will also be produced at the SEZ facility in Ahmedabad.
Zydus was among the first to file an Abbreviated New Drug Application (ANDA) with a Paragraph IV certification for Eluxadoline tablets. This approval grants the company 180 days of shared generic exclusivity for the drug.
Zydus Life shares target price
As per Trendlyne data, the average target price of the stock is Rs 1,064, which shows an upside of 18% from the current market prices. The consensus recommendation from 31 analysts for the stock is a ‘Hold’.
Technically, the stock’s relative strength index (RSI) is at 48. According to Trendlyne, an RSI below 30 is considered oversold, while above 70 indicates overbought conditions. Additionally, the MACD is at -16.1, which is below its center line, this is a bearish indicator.
The stock is trading below its 30-day, 50-day, 100-day, 150-day, and 200-day simple moving averages (SMAs) but remains above its 5-day, 10-day, and 20-day SMAs.
Zydus Life shares performance
On Tuesday, Zydus Life shares closed at Rs 903.1, up 1.1% on the BSE, while the benchmark Sensex surged 1.53%. The stock has declined 7% year-to-date and 16% in the last six months. The company’s market capitalization stands at Rs 90,872 crore.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
