Drug Approval | March 14, 2022
USFDA approves Zydus’ Colestipol Hydrochloride tablets
It is only the second generic application approved by the USFDA
It is only the second generic application approved by the USFDA
Divalproex Sodium Extended-Release tablets are indicated for the treatment of acute manic or mixed episodes associated with bipolar disorder, as monotherapy and adjunctive therapy and prophylaxis of migraine headaches
The companies plan to use the proceeds to retire debt and expand operations
An amount of Rs. 70.9 crore has been earmarked for funding capital expenditure for the proposed expansion
The issue will consist of the issuance of fresh equity shares worth up to Rs 331.60 crore and an offer for sale (OFS) of Rs 500 crore by promoters and existing shareholders
The net proceeds from the issue will be utilised towards the purchase of machinery, modernising existing units and expansion of its R&D facilities
As of FY21, it is the largest independent medical device company and the second-largest company overall, in the surgical consumables market in India with a 7.91 per cent share based on the value
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The company aims to continue its expansion via organic and inorganic routes to increase production capacity and product portfolio
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In FY21, the company reported a net profit of Rs 419 crores compared to Rs 101 crores in FY 20 and consolidated total income at Rs 6092 crores, up 19% Y-o-Y
The company proposes to utilise the net proceeds from the fresh issue towards payment of outstanding purchase consideration
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