Strides subsidiary gets USFDA nod for Potassium Chloride tablets

Strides Pharma Science’s step-down wholly-owned subsidiary, Vensun Pharmaceuticals, Inc., USA and its partner Pharmaceutics International, Inc. (Pii) have received approval for jointly developed Potassium Chloride Extended-Release Tablets.

Potassium Chloride Extended-Release Tablets USP, 10 mEq (750 mg), 15 mEq (1,125 mg), and 20 mEq (1,500 mg) product has been given a green signal by the United States Food and Drug Association (USFDA). The product a generic version of Potassium Chloride Extended-Release Tablets of Merck, Inc. The product will be manufactured by Pii and will be marketed by Strides in the US market.

According to data released by IQVIA MAT, the US market for Potassium Chloride Extended-Release Tablets for the current reference product stands at approximately US$ 240 million.

Strides Pharma Science is a pharmaceutical company which focuses on development and manufacture of IP-led niche finished dosage formulations.

On Tuesday, the shares of Strides were volatile. The stock opened at Rs. 480 per share against Monday’s close of Rs. 476.15. At 02:36, the shares were trading at Rs. 472, down by 0.95 per cent. It reached an intraday high of Rs. 482.70 and an intraday low of Rs. 470.05 per share on the BSE. The 52-week high stood at Rs. 718.50 and 52-week low was at Rs. 333.30 per share.