Zydus Life shares rise as US arm gains rights for rare paediatric disease drug

Shares of the company have risen 52.45 percent so far this year.

Zydus Lifesciences gained 1.6 percent after its US arm Sentynl Therapeutics assumed full responsibility for the development and commercialisation of CUTX-101, which is used in the treatment of Menkes disease, from Cyprium Therapeutics.

Sentynl announced the execution of an assignment and assumption agreement with Cyprium Therapeutics, a Fortress Biotech subsidiary. Under the agreement, Cyprium completed the transfer of its worldwide proprietary rights and US FDA documents pertaining to CUTX-101, the copper histidinate product candidate for the treatment of Menkes disease, to Sentynl.

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As of 11.15am, shares of Zydus Lifesciences were quoting Rs 640 on the NSE, higher by almost 1 percent from the previous session’s closing price.

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“Menkes disease has a devastating impact on patients and their caregivers. With no current approved treatments, death usually occurs between 6 months and 3 years old,” said Matt Heck, CEO of Sentynl. “We are committed to advancing CUTX-101, which has the potential to become the first FDA-approved treatment for Menkes disease.”

Zydus Lifesciences on November 7 reported a 53.2 percent growth in consolidated net profit at Rs 800.7 crore for the July-September quarter of the financial year 2023-24. The pharma company had a bottomline of Rs 522.5 crore a year ago. Revenue for the quarter came in at Rs 4,368.8 crore, 5.6 percent higher than Rs 4134.7 crore last fiscal, the company said in an exchange filing.

Shares of the company have risen 52.45 percent so far this year, with the Nifty 50 gaining around 15 percent, in comparison.

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