Strides Pharma receives approval for potassium chloride tablets in US

Strides Pharma Science Limited informed the bourses that its subsidiary, Strides Pharma Global has received approval for Potassium chloride extended-release tablets USP, from the USFDA on Wednesday.

Potassium chloride extended-release tablets are used to prevent or to treat low blood levels of potassium (hypokalemia).

The company is having a strong pipeline of products in the extended-release space and this is the second extended-release product approval for the company.

According to IQVIA MAT data, the US market for this medication is approximately US$ 60 million. As of date, the company is having 78 cumulative ANDA filings with USFDA out of which 52 are approved and 26 are awaited.

Cheering the news, the stock jumped by 3 per cent and made an intraday high of Rs. 494.80, on the BSE on Wednesday.