Strides Pharma Science gained 3.58% to Rs 413.9 after the company said it received US drug regulator's approval for triamcinolone acetonide ointment.
Strides Pharma on Tuesday (2 June) announced that its step‐down subsidiary, Strides Pharma Global Pte., Singapore, has received an approval for triamcinolone acetonide ointment USP, 0.05% from the United States Food & Drug Administration (USFDA).The ointment is indicated for the relief of the inflammatory and pruritic manifestations of corticosteroid responsive dermatoses. The product is part of the niche and small volume product portfolio with limited competition in the US market.
According to IQVIA MAT data, the US market for triamcinolone acetonide ointment is approximately $15 million. The product will be manufactured at the company's flagship facility at Bangalore and will be marketed by Strides Pharma Inc. in the US market.
Strides Pharma Science is a global pharmaceutical company. It focuses on difficult to manufacture products that are sold in over 100 countries. The company has 124 cumulative ANDA filings with USFDA of which 86 ANDAs have been approved and 38 are pending approval.
On a consolidated basis, Strides Pharma Science reported a net loss of Rs 206.57 crore in Q4 March 2020 as against net profit of Rs 44.70 crore in Q4 March 2019. Consolidated net sales rose 0.4% to Rs 618.64 crore in Q4 March 2020 from Rs 616.18 crore in Q4 March 2019.
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