The US Food and Drug Administration (USFDA) conducted a current Good Manufacturing Practices (cGMP) inspection at Strides Alathur's formulations facility at Alathur in Chennai from 1 April 2024 to 5 April 2024.
Strides Alathur is a wholly owned subsidiary of Strides Pharma Science. The inspection closed with two observations.The drug maker informed that it will respond to these observations comprehensively to US FDA within the stipulated time.
Strides Pharma Science is engaged in develops and manufactures a wide range of IP-led niche pharmaceutical products.
The firm reported consolidated net profit of Rs 49.67 crore in Q3 FY24 as against a net loss of Rs 80.03 crore posted in Q3 FY23. The company recorded quarterly sales of Rs 1,038.9 crore in Q3 FY24, registering a growth of 19.60% from Rs 868.6 crore in Q3 FY23.
The scrip rose 0.40% to trade at Rs 849.55 on the BSE.
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