Strides Pharma Science rose 1.81% to Rs 669 after the company said it received US drug regulator's approval for Butalbital, Acetaminophen, and Caffeine tablets.
Strides Pharma Science on Tuesday announced that its step-down wholly-owned subsidiary, Strides Pharma Global, Singapore, has received approval for Butalbital, Acetaminophen, and Caffeine tablets USP, 50 mg/325 mg/40 mg from the United States Food & Drug Administration (USFDA).The drug is indicated for the relief of the symptom complex of tension (or muscle contraction) headache. The product is bioequivalent and therapeutically equivalent to the Reference Listed Drug (RLD), of Actavis Laboratories FL, Inc.
According to IQVIA MAT July 2020 data, the US market for Butalbital, Acetaminophen, and Caffeine tablets USP, 50 mg/325 mg/40 mg is approximately $40 million. The product will be marketed by Strides Pharma Inc. in the US market.
The company has 126 cumulative ANDA filings with USFDA of which 91 ANDAs have been approved and 35 are pending approval.
The company's consolidated net profit stood at Rs 101.84 crore in Q1 June 2020 as compared to Rs 2.91 crore in Q1 June 2020. The pharma company witnessed a 14% Y-o-Y (year-on-year) increase in net sales to Rs 781.80 crore in Q1 FY21 over Q1 FY20.
Strides is a global pharmaceutical company. It focuses on "difficult to manufacture" products that are sold in over 100 countries.
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