Strides Pharma surges post inspection

Strides Pharma Science’s formulations facility in Bangalore has underwent a US Food and Drug Administration (USFDA) inspection that ended on November 2, 2018. The inspection was completed successfully with Zero 483 observations.

The facility (KRS Gardens) in Bangalore is the largest facility for the company and has the capability in several dosage formats including tablets, capsules (both hard gelatin and soft gelatin), ointments, creams and liquids. The facility supports several important current and future submissions for the US market.

Last one week high and low of the scrip stood at Rs. 434.00 and Rs. 394.20 per share, respectively. The current market cap of the company is Rs. 3,759.26 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 875.72 on December 27, 2017 and a 52 week low of Rs. 334.10 on June 8, 2018.

The promoters holding of the company stood at 30.79 per cent, while Institutions and Non-Institutions held 47.54 and 21.68 per cent, respectively.

Strides Pharma Science (Formerly Strides Shasun) is a pharmaceutical company with a major focus on development and manufacture of IP-led niche finished dosage formulations. It is also among the world’s largest manufacturers of soft gelatin capsules.

During Monday's trade, the stock has opened at Rs.423 per share and touched a high/low of Rs. 437.95 and Rs. 423 per share, respectively and on 10:05 am the stock was quoting at Rs. 433.50 up by 3.26 per cent on BSE.