Hot Pursuit     08-Sep-23
Zydus Life incorporates wholly owned subsidiary in Canada
The drug maker announced that it has incorporated a wholly owned subsidiary, Zydus Pharmaceuticals (Canada) Inc. on 6 September 2023 in Canada.

Zydus Pharmaceuticals (Canada) Inc. is incorporated in Canada under the Canada Business Corporations Act and is yet to commence its business operations. This entity belongs to pharmaceutical industry.

“All the shares, that may be issued, will be subscribed by the company only,” said Zydus Life.

Zydus Lifesciences is a discovery-driven, global lifesciences company that discovers, develops, manufactures, and markets a broad range of healthcare therapies.

The pharma company reported 109.7% surge in net profit to Rs 1,086.9 crore in Q1 FY24 as compared with Rs 518.3 crore posted in Q1 FY23. Revenue from operations jumped 29.6% to Rs 5,139.6 crore during the quarter as compared with Rs 3,964.4 crore recorded in same quarter last year.

Shares of Zydus Lifesciences declined 0.82% to Rs 627 on the BSE.

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