Strides Arcolab has moved higher by 4% at Rs 750 after the company said its wholly owned subsidiary has received final ANDA approval for Oxaliplatin injection.
“Onco Therapies Limited, a wholly owned subsidiary has received final ANDA approval for Oxaliplatin injection 50mg/10ml and 100mg/20ml,” Strides Arcolab said in a filing.
Oxaliplatin is part of the oncology portfolio licensed to Pfizer for the US market and the product is available for immediate launch. According to IMS data, the US market for generic Oxaliplatin is approximately $1.5 billion, it added.
The stock opened at Rs 730 and touched high of Rs 755 after the announcement on the NSE. A combined 129,587 shares have changed hands on the counter so far on both the exchanges.
