Zydus Lifesciences witnessed a more than 3 percent surge in its shares during morning trading on April 22, following the company’s introduction of the generic version of the bladder control drug Mirabegron in the US.
At 11:47 am, Zydus Life’s shares were trading at Rs 951.85 on the National Stock Exchange.
Mirabegron is utilized in treating overactive bladder (OAB) symptoms like urge urinary incontinence, urgency, and urinary frequency. Zydus Lifesciences is among the first to launch the generic version in 25 mg dosages in the US market, with plans to introduce 50 mg dosages shortly.
Mirabegron recorded an annual sale of $2.42 billion in the US (covering both 25 mg and 50 mg variants), according to IQVIA data (IQVIA MAT February 2024).
The market is evenly divided between the 25 mg and 50 mg versions of the drug. Analyst estimated the product opportunity to be approximately $75-80 million for Zydus Lifesciences (equivalent to around Rs 4 per share to EPS) and around $30-35 million for Lupin during the exclusivity period.
Zydus Lifesciences received approval from the US Food and Drug Administration for the 25 mg and 50 mg dosages in October 2022. Lupin and Zydus Life are the only companies to have launched their generic versions of the drug so far.
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