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Zydus Lifesciences

From Wikipedia, the free encyclopedia
Not to be confused with Cadila Pharmaceuticals.

Zydus Lifesciences Limited
Company typePublic
IndustryPharmaceuticals
Founded1952 (72 years ago) (1952)
FounderRamanbhai Patel
HeadquartersAhmedabad, Gujarat, India
Key people
Pankaj R. Patel
(Chairman)
Sharvil P. Patel
(Managing Director)
Products
RevenueIncrease ₹19,547 crore (US$2.3 billion) (FY24)[1]
Increase ₹5,384 crore (US$650 million) (FY24)[1]
Increase ₹3,873 crore (US$460 million) (FY24)[1]
Number of employees
25,000+ (2023)
SubsidiariesZydus Wellness (57.59%)[2]
Websitewww.zyduslife.com

Zydus Lifesciences Limited, formerly known as Cadila Healthcare Limited,[3] is an Indian multinational pharmaceutical company headquartered in Ahmedabad, which is primarily engaged in the manufacturing of generic drugs.[4][5][6] The company ranked 100th in the Fortune India 500 list in 2020.[7]

History

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Cadila was founded in 1952 by Ramanbhai Patel (1925–2001), formerly a lecturer in the L.M. College of Pharmacy, and his business partner Indravadan Modi.[8]

In 1995, the Patel and Modi families split; the Modi family's share was moved into a new company called Cadila Pharmaceuticals, and Cadila Healthcare became the Patel family's holding company. Cadila Healthcare had its initial public offering in February 2000 and listed on the BSE.[9]

In 2003, the company merged another Indian pharmaceutical company called German Remedies into itself.[10] On 25 June 2007, the company acquired Química e Farmacêutica Nikkho do Brasil Ltda (Nikkho) as part of Zydus Healthcare Brasil Ltda.[11]

In 2014, Cadila Healthcare launched the world's first adalimumab biosimilar under the brand name Exemptia at one-fifth the originator's price.[12] Zydus Cadila Healthcare has also launched its first research based drug molecule Saroglitazar in the treatment of Diabetic Dyslipidemia under brand name "Lipaglyn". SoviHep is the first sofosbuvir brand launched in India by Zydus in the year 2015.[4]

In 2019, injectable ketorolac tromethamine manufactured by Zydus (Cadila Healthcare) was recalled due to microbial growth.[13]

In 2020, Zydus Cadila's drug Desidustat received approval by the USFDA to initiate clinical trials on cancer patients.[14]

In 2022, Cadila Healthcare Ltd was renamed as Zydus Lifesciences Ltd.[15]

In October 2024, USFDA Approval for Prostate Cancer Drug: Zydus Lifesciences received USFDA approval to manufacture Enzalutamide tablets, which are used for treating prostate cancer. This drug, an androgen receptor inhibitor, is designed for patients with castration-resistant and metastatic castration-sensitive prostate cancer. The product will be manufactured at Zydus' facility in Ahmedabad. This approval is part of the company's broader efforts to expand its portfolio of cancer treatments in the U.S. market [16](NDTV Business)

Products

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From twenty-five pharmaceutical production operations in India and Zydus Cadila develops and manufactures an extensive range of pharmaceuticals as well as diagnostics, herbal products, skincare products and other OTC products.[17] Starting from late 2015, having concluded a voluntary license agreement with Gilead, the company also produces the generics for hepatitis C treatment (i.e. sofosbuvir, distributed under the brand name SoviHep).[18]

The company makes active pharmaceutical ingredients at three sites in India, Ankleshwar plants, Vadodara plant, and Patalganga plant.[17]

COVID-19 vaccine development

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Prime Minister Narendra Modi during his visit to the Zydus Biotech Park in Ahmedabad in 2020.

In July 2020, the company got permission to conduct human trials of the developmental COVID-19 vaccine named ZyCoV-D, from the Drugs Controller General of India (DCGI), Government of India.[19][20][21] On 20 August 2021, DCGI granted emergency use approval of ZyCoV-D.[22]

Cadila is also among the several Indian pharma companies that received the licensing agreements from the Gilead Sciences to produce remdesivir.[23]

Corporate control

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Zydus Cadila's major shareholder remains the Patel family. Pankaj Patel (born 1953), son of the founder, is the chairman of the company. In 2004, Pankaj Patel was included in Forbes' annual list of India's richest people. As of 2020, Forbes estimates Patel's net worth at US$3.9 billion, making him India's 46th richest person.[24]

Controversies

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A Mint investigative report in 2021 claimed that Zydus Lifesciences supplied possibly bacteria-contaminated batches of remdesivir to hospitals in Uttar Pradesh, Rajasthan, Maharashtra, Gujarat and Bihar, allegedly making hundreds of already sick COVID-19 patients even sicker.[medical citation needed] Zydus was manufacturing the remdesivir in their Gujarat factory under license from United States' Gilead Sciences. In May 2021, when state procurement agency Rajasthan Medical Services Corporation sought an explanation, Zydus stated that they had not seen similar adverse reactions to their remdesivir elsewhere and denied all contamination allegations.[25][non-primary source needed]

In December 2016, Zydus Discovery DMCC, a research subsidiary Zydus Lifesciences, was cited by the US FDA for deliberately misbranding their flagship product, Saroglitazar—the drug used to treat diabetic dyslipidemia in India. In a 21 December 2016 letter to the company, the US FDA asked it to stop using broad statements, such as the "world's first" and to stop suggesting that the drug is approved throughout the world, including in the United States, when that is not true.[26]

See also

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References

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  1. ^ a b c "Earnings Presentation: Q4 and Full Year FY24" (PDF). BSE. Zydus Lifesciences Ltd. Retrieved 29 May 2024.
  2. ^ "Cadila Healthcare Limited". CRISIL. Retrieved 31 January 2023.
  3. ^ Umarji, Vinay (24 February 2022). "Cadila Healthcare changes name to Zydus Lifesciences Limited". Business Standard India. Retrieved 17 March 2022.
  4. ^ a b "Zydus launches SoviHep - the breakthrough therapy for Hepatitis C in alliance with Gilead Sciences". The Hindu Business Line. 17 March 2015. Retrieved 29 December 2017.
  5. ^ "A Complete Overview on Cadila Healthcare, a growing and popular company in India". business.mapsofindia.com. 21 June 2011. Retrieved 4 February 2009.
  6. ^ "Cadila Healthcare Profit and Loss Reports - The Economic Times". economictimes.indiatimes.com. Retrieved 15 June 2020.
  7. ^ "Cadila Healthcare - Fortune 500 List 2020 - Fortune India". www.fortuneindia.com. Retrieved 12 January 2021.
  8. ^ "India's Richest 2019: Cadila's Patels' Quest For The Magic Pill". Forbes India. Retrieved 2 October 2023.
  9. ^ "Cadila shares close IPO price after 3 years". The Times of India. 29 July 2003. Retrieved 2 October 2023.
  10. ^ "German Remedies to be merged with Cadilla". The Times of India. 9 August 2003. Retrieved 2 October 2023.
  11. ^ Company Overview of Química e Farmacêutica Nikkho do Brasil Ltda Bloomberg
  12. ^ Zydus Cadila launches biosimilar of AbbVie's Humira in India The Economic Times 9 December 2014
  13. ^ "Sagent Pharmaceuticals Issues Voluntary Nationwide Recall of Ketorolac Tromethamine Injection, USP, 60mg/2mL (30mg per mL) Due to Lack of Sterility Assurance". FDA. 29 September 2020. Retrieved 2 October 2023.
  14. ^ Zydus Cadila Desidustat Gets USFDA Nod To Initiate Clinical Trials On Cancer Patients The Times Of India 23 July 2020
  15. ^ "Cadila Healthcare changes name to Zydus Lifesciences Limited". Business Standard. Retrieved 2 October 2023.
  16. ^ "Rediff".
  17. ^ a b "Know 10 largest Pharmaceutical Companies in India". Edu Dwar. Retrieved 28 July 2023.
  18. ^ "Hepatitis C treatment in India for less than $1000". hep-c-news.com. Hep C News. 11 July 2016. Archived from the original on 16 September 2016.
  19. ^ "Potential COVID-19 vaccine by Zydus Cadila gets DCGI nod for human clinical trials". The Hindu. 3 July 2020.
  20. ^ "Zydus Cadila begins human clinical trials of COVID-19 vaccine candidate - ET HealthWorld". ETHealthworld.com.
  21. ^ "Zydus Cadila's COVID-19 Vaccine Candidate Found Safe in Early-Stage Human Trial". The New York Times. 5 August 2020.
  22. ^ "India gives emergency approval for world's first COVID-19 DNA vaccine". Reuters. 20 August 2021.
  23. ^ Umarji, Vinay (12 June 2020). "Gilead finds fourth partner for manufacture of Remdesivir in Zydus Cadila". Business Standard India.
  24. ^ "Pankaj Patel". Forbes. Retrieved 15 June 2020.
  25. ^ "The dangerous failure to stop tainted remdesivir". mint. 23 December 2021. Retrieved 1 August 2023.
  26. ^ Dandekar, Vikas (28 December 2016). "Cadila Healthcare misbranded Saroglitazar, says US FDA". The Economic Times. ISSN 0013-0389. Retrieved 1 August 2023.
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