Shares of Strides Pharma Science Tuesday gained over 6 per cent after its joint venture with Vivimed Labs received approval from the US health regulator for Albendazole tablets, used in the treatment of certain infections caused by tapeworm.
The stock settled at Rs 458.4 on BSE, a jump of 6.42 per cent. During the day, it rose 7.28 per cent to Rs 462.15.
On NSE, scrip advanced 6.57 per cent to close at Rs 459.2. It soared 7.53 per cent to touch an intra-day of Rs 463.35.
In terms of equity volume, 1.8 lakh shares of the company were traded on BSE and over 23 lakh scrips changed hands on NSE during the day.
In a regulatory filing, Strides Pharma said that Strides Vivimed, Singapore, has received approval from the United States Food and Drug Administration (USFDA) for Albendazole tablets, in the strength of 200 mg. It is a generic version of Amneal Pharmaceuticals Inc's Albenza tablets.
Strides Vivimed is a 50:50 joint venture between Strides Pharma and Vivimed Labs.
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