Strides Shasun receives final approval for generic Tamiflu capsule
The company's US subsidiary has received FDA approval for Oseltamivir Phosphate Capsules, prescribed for the treatment of viral influenza.
The stock surged up by more than 4 per cent in pre-market session on back of this development. Strides Shasun Inc., wholly-owned US subsidiary of Strides Pharma Global received the final approval from the United States Food & Drug Administration (USFDA), the company informed the exchanges in a post-market hour filing on Monday.
Oseltamivir Phosphate Capsules is a generic equivalent of Hoffmann-La Roche's popular viral flu drug Tamiflu. The drug is used for the treatment of symptoms caused by the influenza virus and will be manufactured at Strides Shasun's Bangalore facility. The US market for the drug was approximately US$ 725 million, according to the IQVIA MAT April 2018 report.
On Tuesday, at 09:37, the stock of Strides Shasun Limited was quoting Rs. 363.00 per share, up by 3.82 per cent. Meanwhile, the benchmark index BSE Sensex was 35,491.67, up marginally by 0.02 per cent.