Zydus Lifesciences Announces Q4 Results and Expands Market Reach

On July 31, 2024, Zydus Lifesciences Limited announced that Mexico’s regulatory authority, COFEPRIS, has approved the marketing of MamitraTM, a biosimilar of Trastuzumab. This drug, available in 150 mg and 440 mg strengths, will be used to treat HER2-positive metastatic breast cancer, early breast cancer, and advanced gastric cancer. In Mexico, breast cancer is now the most diagnosed cancer, surpassing prostate and colorectal cancers.

Speaking on the development, Dr. Sharvil Patel, Managing Director, Zydus said, “The approval of MamitraTM in Mexico allows us to expand the reach of our biosimilar portfolio to newer markets and enable access to affordable life-saving therapies, particularly in oncology. Our commitment to science, health and innovation helps us bridge unmet healthcare needs of patients globally.”

Zydus developed and launched the Trastuzumab biosimilar in 2016 in India under the brand name Vivitra. Since then, around 100,000 patients have been treated with it. Zydus has released 12 lifesaving biosimilars, helping meet the demand for affordable cancer treatments in India.

Financial Highlights

In Q4 results, Zydus Lifesciences’ revenue grew by 18.56% year-over-year (YoY), and profit surged by 298.62% YoY. Compared to the last quarter, revenue increased by 22.83%, and profit rose by 49.73%. Selling, general, and administrative expenses went up by 2.41% from the last quarter and 15.62% from the previous year. Operating income climbed 60.08% from the last quarter and 642.24% YoY. Earnings per share (EPS) for Q4 was ₹11.66, a 61.53% increase YoY.

About Zydus Lifesciences Ltd

Zydus Lifesciences Ltd. aims to help people live healthier and more fulfilling lives. It is a global company that discovers, develops, makes, and markets a wide range of healthcare products. With 26,000 employees, including 1,400 scientists in R&D, Zydus focuses on creating new medicines, biologicals, biosimilars, and vaccines. Over the past decade, Zydus has launched several innovative products to address healthcare needs. The company strives to make a difference through groundbreaking discoveries.

On July 31, 2024, the share price of Zydus Lifesciences Ltd opened at ₹1,225.00, touching the day’s low at ₹1,248.90, as of 01:40 AM on the NSE.

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