Shares of Zydus Lifesciences surged over 5% on January 7 following the announcement of a strategic agreement with US-based healthcare firm CVS Caremark. The collaboration will see Zydus’ diabetes products included in CVS Caremark’s template formulary, enhancing access to these treatments in the US market.
The agreement covers Zituvio (sitagliptin), Zituvimet (sitagliptin and metformin hydrochloride), and Zituvimet XR (sitagliptin and metformin hydrochloride extended-release). These formulations, approved by the USFDA through the 505(b)(2) route, target improved glycemic control in adults with type 2 diabetes as an adjunct to diet and exercise.
In Tuesday’s trade, Zydus Lifesciences shares rose 5.23%, hitting an intraday high of ₹1,011.75 on the NSE. This development comes as a major milestone for the company, furthering its presence in the US pharmaceutical market.
Punit Patel, President & CEO of Zydus Pharmaceuticals USA Inc., highlighted the significance of the partnership, stating, “We are proud to partner with CVS Caremark, a leading patient-focused healthcare solutions provider in the US. This collaboration reflects our commitment to enhancing access to high-quality medications for patients while addressing their healthcare needs more affordably.”
Zydus Lifesciences has delivered a robust 40.70% return to its shareholders over the past year, according to BSE data.
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Source: Moneycontrol
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