Strides Pharma receives USFDA approval for Potassium Chloride Oral Solution

18 Nov 2022 , 03:01 PM

Strides Pharma Science Limited (Strides) has announced that its step-down wholly owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, has received approval for Potassium Chloride Oral Solution USP, 40 mEq/15mL (20%) from the United States Food & Drug Administration (USFDA).

The product is bioequivalent and therapeutically equivalent to the Reference Listed Drug (RLD), Potassium Chloride Oral Solution USP, 40 mEq/15 mL (20%) of Genus Lifesciences Inc.

The approval further strengthens the Potassium Chloride franchise for the company which now comprises of Extended-Release Capsules, Extended-Release Tablets, Powder for Oral Solutions and Oral Solutions. The Company also has a pipeline of other Potassium Chloride products which are expected to be approved and launched in FY24.

The entire Potassium Chloride range of products for the company has a cumulative market opportunity of ~US$330 Mn as per IQVIA. The products will be manufactured at the company’s facility at Bengaluru and will be marketed by Strides Pharma Inc. in the US market.

The company has 280 cumulative ANDA filings (including the recently acquired portfolio from Endo at Chestnut Ridge) with USFDA of which 261 ANDAs have been approved and 19 are pending approval. The company has set a target to launch ~ 20 new products every year in the US.

At around 3:00 PM, Strides Pharma Science Ltd is currently trading at Rs337 per share up by Rs6.2 or 1.87% from its previous closing of Rs330.80 per share on the BSE.

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