Strides Pharma climbs 3 per cent on getting US regulator nod

In the early trading session on Thursday, the stock of Strides Pharma Science was trading in green after the company made an announcement that its wholly-owned subsidiary, Strides Pharma Global Private Limited was granted regulatory approval by United States Food and Drug Administration (USFDA) for Butalbital, Acetaminophen, Caffeine, and Codeine Phosphate capsules of 50 mg/325 mg/40 mg/30 mg.

Caffeine, Acetaminophen, Butalbital and Codeine Phosphate capsules provide relief to the symptom complex of tension (or muscle contraction) headache. The product had US sales of about US$ 10 million according to May 2020 MAT data from IMS Health and Quintiles (IQVIA). The company further stated that the product will be marketed by Strides Pharma in the US market.

The drug corresponds to Fioricet with Codeine Capsules, 50 mg/325 mg/40 mg/30 mg, of Teva Branded Pharmaceutical Product R&D, Inc.

Strides Pharma Science is a pharmaceutical company engaged in the manufacturing and development of active pharmaceutical ingredients (APIs), formulations as well as biotech. The company has 124 cumulative ANDA filings with USFDA, of which 87 ANDAs have been approved and 37 are pending approval.

At 10.30 am on Thursday, the company's stock was trading at Rs 425, up by 3.32 per cent or Rs 13.65 per share. The 52-week high is recorded at Rs 547.35 and the 52-week low is Rs 271 on BSE.