Zydus Ready For Moraiya Reinspection In June
Levorphanol Write-Down Dents Zydus in Q2 But Saroglitazar Expectations Build
Executive Summary
Zydus says its Moraiya plant should be ready for re-inspection at the end of June 2020, following a recent FDA warning letter. Meanwhile, as returns from levorphanol fall on the back of increased competition, the firm has written 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.