Ahmedabad-based generic drugs maker Zydus Lifesciences has received final approval from the United States Food and Drug Administration (USFDA) to market Topiramate Extended-Release Capsules, 25 mg, 50 mg, 100 mg, 150 mg, and 200 mg.
Topiramate Extended-Release capsule is used to prevent and control seizures in people with epilepsy. It is also used to prevent migraine headaches.
Zydus Lifesciences, formerly known as Cadila Healthcare, on Thursday said that the drug will be manufactured at its formulation manufacturing facility at Ahmedabad SEZ.
According to IQVIA data, the Topiramate Extended-Release capsule had annual sales of USD 68.8 million in the United States for the 12-month period ending September 2022.
The company this week also announced that it has signed an agreement for the purchase of the active pharmaceutical ingredients (API) arm of Watson Pharma on a cash-free and debt-free basis at a lump-sum consideration of Rs 46.77 crore.
The generic drug manufacturer at its analyst meeting said that it continues to file 20-30 abbreviated new drug applications (ANDAs) with the USFDA every year. The management said that the company is looking to focus on building a specialty pharma business over the next 4-5 years.
Brokerage firm InCred Capital highlighted Zydus Life as its top pick within the Pharma space with an add rating and a price target of Rs 593.
Shares of Zydus Lifesciences are trading flat at Rs 413.90, up nearly 1 percent.
