Strides Pharma Science informed that it's wholly owned subsidiary, Strides Alathur has received an establishment inspection report (EIR) from the United States Food and Drug Administration (USFDA) for its formulations facility at Alathur, Chennai.
The good manufacturing practices (GMP) inspection was conducted from 1 April to 5 April 2024. The USFDA has determined that the inspection classification of this facility is voluntary action indicated (VAI).Strides Alathur facility caters to the U.S. and other regulated markets. The facility manufactures tablets & capsules and supports several current and future products for the US markets.
Strides remains committed to the highest standards of compliance and will continue to focus on manufacturing high-quality pharmaceutical products for the Global markets, the company stated in exchange filing.
Strides Pharma Science is engaged in develops and manufactures a wide range of IP-led niche pharmaceutical products.
The company reported a consolidated net profit of Rs 70.20 crore in Q1 FY25 as against a net loss of Rs 7.11 crore posted in Q1 FY24. Revenue from operations stood at Rs 1,087.50 crore in the quarter ended June 2024, registering a growth of 16.93% YoY.
The scrip declined 1.27% to Rs 1,297 on the BSE.
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