Zydus Life gains as Moraiya facility clears USFDA inspection

Zydus Lifesciences rose 1.70% to Rs 433.35 after the company received nil observations for pre-approval inspection conducted by US Food and Drug Administration (USFDA) at its manufacturing facility located at Moraiya, Ahmedabad.
The pre-approval inspection by the USFDA was conducted from 23 January 2023 to 27 January 2023 for transdermal patch products.
Zydus Lifesciences is engaged in an integrated pharmaceutical company with business encompassing the entire value chain in the research, development, production, marketing and distribution of pharmaceutical products.
On consolidated basis, the company’s net profit declined 82.6% to Rs 522.50 crore despite of 7.6% rise in revenue from operations to Rs 3,942.60 crore in Q2 FY23 over Q2 FY22.
Source: Business-standard

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