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Zydus Ready For Moraiya Reinspection In June

Levorphanol Write-Down Dents Zydus in Q2 But Saroglitazar Expectations Build

 
• By Vibha Ravi

Zydus says its Moraiya plant should be ready for re-inspection at the end of June 2020, following a recent FDA warning letter. Meanwhile, as returns from levorphanol fall on the back of increased competition, the firm has written down investment by $37.5m causing Q2 profits to slump 74%. Post successful Phase II trials in the US for NASH and NAFLD indications, its hopes are now pinned on saroglitazar magnesium.

Cycling
Cadila hopes to cruise on products it has lined up for launch • Source: Shutterstock

Cadila Healthcare Ltd., the flagship company of the Zydus Cadila group, is counting on new launches in the US and continued strong growth in the India business to drive growth in the second half as sales of certain products like Levorphanol, an opioid painkiller, diminish on account of generic competition. It is also considering ‘strategic options’ for the Europe business, which has been slowing down.

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