Shares of Zydus Lifesciences were trading 3% higher on 14 March on launching the new cancer drug Olaparib.

The company has announced the launch of their new cancer drug, Olaparib, which is a PARP inhibitor, under the IBYRA brand name in India. The drug targets specific genetic mutations that are prevalent in certain types of cancers, making a more tailored and effective treatment.

The drug is used for cancer patients who are diagnosed as HRD positive or with BRACA mutation and can use PARP inhibitors that can delay the progression of the disease. The company has collaborated with MedGenome to conduct comprehensive HRD testing.

Dr Sharvil Patel, managing director of Zydus Lifesciences, said, “For patients newly diagnosed with these specific cancers, the right diagnosis and the right treatment early on can give them a big advantage in the fight against cancers.”

Furthermore, the company also announced on 14 March that they had received tentative approval from the US Food and Drug Administration (USFDA) for its Edaravone injection in the dose 30 mg/100 mL (0.3 mg/mL), a single-dose vial and final approval for Chlorpromazine Hydrochloride Injection USP, 25 mg/mL and 50 mg/2 mL (25 mg/mL), single-dose vials.

The Edaravone injection is used for the treatment of certain types of nerve diseases like ‘amyotrophic lateral sclerosis’ (ALS). The Chlorpromazine Hydrochloride Injection is used in the treatment of mental or mood disorders, including psychotic disorders, schizophrenia, the manic phase of bipolar disorder, and severe behavioural problems in children.

These injections will be manufactured at the company’s injectable manufacturing facility located at Jarod, near Vadodara in Gujarat.

At 3:30 pm, the shares of Zydus Lifescience closed 2.62% higher at Rs 994 on NSE.