Zydus Lifesciences unit Sentynl Therapeutics acquires Eiger’s Zokinvy program
Upstox
2 min read • Updated: May 6, 2024, 1:19 PM
Summary
Zydus Lifesciences said Zokinvy is the first and only treatment approved by the US Food and Drug Administration (USFDA) to target the cause and symptoms of Progeria, also known as Hutchinson-Gilford Progeria Syndrome (HGPS), and Processing-Deficient Progeroid Laminopathies (PDPL) in young people 12 months of age and older.
Zydus Lifesciences said on Saturday that Sentynl Therapeutics, Inc., a US-based biopharmaceutical company wholly-owned by the firm and Eiger BioPharmaceuticals, announced the closing of the sale of Eiger’s Zokinvy (lonafarnib) program to Sentynl.
The company pointed out that Zokinvy is the first and only treatment approved by the US Food and Drug Administration (USFDA) to target the cause and symptoms of Progeria, also known as Hutchinson-Gilford Progeria Syndrome (HGPS), and Processing-Deficient Progeroid Laminopathies (PDPL) in young people 12 months of age and older.
Collectively known as Progeria, HGPS, and PDPL are ultra-rare, fatal, genetic premature aging diseases that accelerate mortality in young patients, the firm said. Following its US approval in 2020, Zokinvy secured approval in the European Union, Great Britain, and Japan.
Sharvil Patel, Managing Director at Zydus Lifesciences said the acquisition marks an important milestone in growing the company’s portfolio of medicines for rare and orphan diseases, which can have devastating consequences if left untreated.
Last month, Zydus Lifesciences said it received final approval from the USFDA to market Tretinoin Cream USP, 0.1%. Tretinoin cream, which is used to treat acne, had an annual sales of $54.8 million in the United States. Zydus Lifesciences said that the drug will be manufactured at the group’s topical manufacturing facility at Changodar, Ahmedabad.
During the third quarter of fiscal year 2024 (FY24), the company reported a 6% increase in its operating revenue at ₹4,505.2 crore. Earnings before interest, tax, depreciation, and amortisation (EBITDA) grew 15% year-on-year (YoY) to ₹1,102.4 crore. EBITDA margin for the quarter improved 200 basis points YoY to 24.5%.
Net profit rose 27% YoY to ₹789.6 crore during the quarter. Zydus had stated that capex for the quarter stood at ₹213.7 crore.
Shares of Zydus Lifesciences have gained over 43% since the beginning of the year. The stock has gained nearly 91% in the last one year.