Strides Pharma receives USFDA approval for Prednisone tablets

Strides Pharma Science Limited (Strides) announced on Thursday that its step-down wholly-owned subsidiary, Strides Pharma Global Pte Limited (Singapore) has received approval for Prednisone tablets USP, 1 mg from United States Food & Drug Administration (USFDA). The product is a generic version of Meticorten tablets, 1 mg of Schering Corporation.

According to IQVIA MAT July 2020 data, the US market for Prednisone tablets USP, 1 mg is approximately USD 12 million. The product will be manufactured at the company’s flagship facility at Bengaluru and will be marketed by Strides Pharma Inc. in the US market. Prednisone is used as an immunosuppressant or anti-inflammatory medication. It is used in the treatment of different conditions such as allergic disorders, skin conditions, ulcerative colitis, arthritis, lupus, psoriasis, or breathing disorders.

The company has 126 cumulative ANDA filings with USFDA of which, 89 ANDAs have been approved and 37 are pending approval.

The stock closed at 606.55, down by 0.89 per cent or Rs 5.45 per share. The intraday high is Rs 618.25 and the intraday low is Rs 601.00. The 52-week high is 653.05, while its 52-week low is 271.