Strides Arcolab has jumped 3% in noon trades following USFDA nod for 2 ANDAs.
The company's wholly owned subsidiary - Onco Therapies, has secured approval for 2 oncology products from the United States Food and Drug Administration. The combined market for the two drugs in the United States is approximately $20 million.
Shares of Strides Arcolab opened at Rs 906 and surged to a high of Rs 933 in late-morning deals. The stock is currently up 3% at Rs 923. Around 68,000 shares have been traded on the BSE so far, as against a two week average of 39,000 shares.
The company is also scheduled to announce its third quarter FY13 results today.
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