Strides Pharma plunges 2 per cent despite receiving USFDA nod to market Prednisone tablets

The pharmaceutical company headquartered in Bengaluru, Strides Pharma Science Limited announced today that its subsidiary, Strides Pharma Global Pte Limited (Singapore) has received a nod for Prednisone tablets USP from United States Food & Drug Administration (USFDA).

The share of Strides Pharma declined by nearly 2.34 per cent on BSE even after informing that it has been granted USFDA approval.

Prednisone tablets are used as an anti-inflammatory medication, which is used in the treatment of different conditions such as allergic disorders, skin conditions, ulcerative colitis, arthritis, lupus, psoriasis, or breathing disorders.

The medication, Prednisone tablets USP 2.5 mg and 5 mg is bioequivalent and therapeutically equivalent to Deltasone tablets, 2.5 mg and 5 mg, of Pharmacia and Upjohn Co. It will be manufactured at the company’s manufacturing facility at Bengaluru and marketed by Strides Pharma Inc. in the US market.

At around 2.50 pm, its share was trading down by 2.1 per cent at Rs 695.35. In comparison, S&P BSE Sensex was trading 0.61 per cent higher. The share recorded an intraday high of Rs 714.4 and an intraday low of Rs 690.4 on BSE.