Strides Shasun soars 3 per cent on getting USFDA for HIV1 disease
Strides Shasun Limited’s subsidiary Strides Pharma Global has got an approval for Efavirenz Tablets USP, 600 mg from the US drug regulator.
This tablet is used for the treatment of Human Immunodeficiency Virus Type 1 (HIV-1) diseased adults and youngsters. The US market for the said tablets is around US$ 115 million and Strides is the only second generic company to receive the approval for the said product.
Strides Shasun has universal manufacturing foot print with 9 manufacturing facilities, which comprises of 7 USFDA approved facilities and 2 facilities for the emerging markets. The company has two R&D facilities in India with global filing capabilities and a robust commercial footprint across 100 countries. The company has 74 cumulative ANDA filings with USFDA, out of which 44 ANDAs have got approval and remaining 30 are awaiting.
On Wednesday, the stock opened at Rs. 680 per share, touched an intra-day high of Rs. 694.50 and finally closed at Rs. 692.20, on the BSE.