Strides receives USFDA approval for Prednisone Tablets

Strides Pharma Science Limited (Strides) today announced that its step-down wholly owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, has received approval for Prednisone Tablets USP, 1 mg from the United States Food & Drug Administration (USFDA). The product is a generic version Meticorten® Tablets, 1 mg of Schering Corporation.

According to IQVIA MAT July 2020 data, the US market for Prednisone Tablets USP, 1 mg is approximately US$ 12 Mn. The product will be manufactured at the company's flagship facility at Bengaluru and will be marketed by Strides Pharma Inc. in the US market.

The company has 126 cumulative ANDA filings with USFDA of which 89 ANDAs have been approved and 37 are pending approval.

Shares of Strides Pharma Science Ltd was last trading in BSE at Rs.612 as compared to the previous close of Rs. 590.45. The total number of shares traded during the day was 479745 in over 7030 trades.

The stock hit an intraday high of Rs. 626.8 and intraday low of 589. The net turnover during the day was Rs. 293775262.

Source : Equity Bulls

Keywords