Zydus Lifesciences
Indian multinational pharmaceutical company From Wikipedia, the free encyclopedia
Indian multinational pharmaceutical company From Wikipedia, the free encyclopedia
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]
| |
| Company type | Public |
|---|---|
| Industry | Pharmaceuticals |
| Founded | 1952 |
| Founder | Ramanbhai Patel |
| Headquarters | Ahmedabad, Gujarat, India |
Key people | Pankaj R. Patel (Chairman) Sharvil P. Patel (Managing Director) |
| Products | |
| Revenue |  ₹19,547 crore (US$2.3 billion) (FY24)[1] |
| ₹5,384 crore (US$650 million) (FY24)[1] | |
| ₹3,873 crore (US$460 million) (FY24)[1] | |
Number of employees | 25,000+ (2023) |
| Subsidiaries | Zydus Wellness (57.59%)[2] |
| Website | www |
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]
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.[16] 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).[17]
The company makes active pharmaceutical ingredients at three sites in India, Ankleshwar plants, Vadodara plant, and Patalganga plant.[16]
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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.[18][19][20] On 20 August 2021, DCGI granted emergency use approval of ZyCoV-D.[21]
Cadila is also among the several Indian pharma companies that received the licensing agreements from the Gilead Sciences to produce remdesivir.[22]
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.[23]
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.[24][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 December 21, 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.[25]
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