Shares of Zydus Lifesciences Ltd were trading 3% lower on 22 May despite the company receiving final approval from the US health authorities to produce and sell 300 mg and 450 mg doses of Theophylline Extended-Release Tablets.

The business informed the stock exchanges that the tablets can be used to treat COPD, also known as chronic obstructive pulmonary disease and asthma.

According to Zydus Lifesciences, the group’s formulation manufacturing plant, located in the Ahmedabad Special Economic Zone of Gujarat, would produce theophylline extended-release tablets.

According to IQVIA MAT data, in the United States, as of March 2024, sales of Theophylline Extended-Release Tablets, 300 mg and 450 mg, brought in $12.6 million.

Since the filing process started in FY 2003–04, Zydus Lifesciences has submitted more than 460 Abbreviated New Drug Applications (ANDA) and received 396 approvals in total as of 31 March 2024.

Zydus Lifesciences reported Rs 5,533.8 crore, or a 10% YoY increase in total revenue for the quarter that ended on 31 March 2024, across all significant markets. Furthermore, the company’s YoY improvement in the earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin expanded by 440 basis points, reaching 29.5%.

Moreover, the Zydus Board of Directors suggested a final dividend of Rs 3, or 300% of the face value of each equity share, for the fiscal year 2024. At the following Annual General Meeting (AGM) on 9 August 2024, the company’s shareholders must approve the dividend payment.

At 3:30 pm, the shares of Zydus Lifesciences closed 0.12% lower at Rs 1,087 on NSE.