Strides Pharma Gains 2% as USFDA Approves Cardiac Drug

25 Sep 2023 , 11:04 AM

Strides Pharma Science shares rose by 2% in early trade on September 25 due to its subsidiary obtaining USFDA approval for a cardiac drug. The stock was priced at Rs 509.95, up by Rs 11.30 (2.27%) on the BSE during early trade.

Strides Pharma Global Pte Limited, a subsidiary, received USFDA approval for Icosapent Ethyl Capsules (0.5 gram and 1 gram), a medication used in conjunction with other drugs to reduce cardiovascular risks. The product is bioequivalent and therapeutically equivalent to Vascepa (Reference Listed Drug) and will be produced in Bengaluru.

Strides Pharma has a significant number of approved ANDAs (Abbreviated New Drug Applications) with the USFDA and plans to launch around 60 new products in the US within three years. Earlier in the month, the subsidiary received tentative approval for its New Drug Application (NDA) and Dolutegravir tablets from the USFDA, both to be manufactured in Bengaluru.

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