Strides Pharma receives USFDA approval for ointment, treating dermatoses
Strides Pharma Science announced today that its wholly owned subsidiary in Singapore, Strides Pharma Global Pte. Limited (SPG), has received USFDA approval for Triamcinolone Acetonide Ointment USP, 0.05 per cent. It is used in treating inflammatory and pruritic manifestations of corticosteroid responsive dermatoses.
This product forms part of the niche and small volume product portfolio in US, with finite competition in the US market, as stated by the company. Adding more, the company specified that the product will be manufactured at its facility in Bangalore and will be marketed by Strides Pharma Inc. in the US market. As per IQVIA MAT data, the market size for the given product is almost about US$ 15 million.
The company has 86 approved ANDAs and 38 ANDAs awaiting approval by the USFDA, that is, a cumulative total of 124 ANDA filings with USFDA. Earlier, the company had received tentative approval for the said product.
Reacting to this news release, Strides Pharma's stock rallied nearly 5.3 per cent on the bourses to touch an intraday high of Rs 421 apiece.