Levorphanol Write-Down Dents Zydus in Q2 But Saroglitazar Expectations Build
Moraiya Unit Reinspection Expected In June
As returns from levorphanol fall on the back of increased competition, Zydus Cadila writes 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.
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India’s Cadila Healthcare, which has been suffering on the earnings front, is amalgamating four subsidiaries under its roof to reduce overheads from managing separate entities and avoid duplication of efforts after posting weak second-quarter earnings.
Site switch also could trigger ANDA approvals sidelined as Moraiya plant recovers from US FDA warning letter.
Novartis thinks tropifexor may prove to be best-in-class FXR agonist, while Pfizer notes the complementary activity of its ACC and DGAT2 inhibitors. Their NASH trial collaboration is heading toward a Phase II launch in 2020.