Strides Pharma Science Ltd - Angel Broking

Mr. Yash Gupta - Equity Research Associate, Angel Broking Ltd

"Strides Pharma Science Limited (Strides) today announced that its step-down wholly owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, has received approval for Ethacrynic Acid Tablets USP, 25 mg from the United States Food & Drug Administration (USFDA). The product is a generic version of Edecrin® Tablets, 25 mg, of Bausch Health Americas, Inc. According to IQVIA MAT August 2020 data, the US market for Ethacrynic Acid Tablets USP, 25 mg is approximately US$ 14 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. This is positive development for the company."

Shares of Strides Pharma Science Ltd was last trading in BSE at Rs.729.6 as compared to the previous close of Rs. 753.35. The total number of shares traded during the day was 26370 in over 1518 trades.

The stock hit an intraday high of Rs. 756 and intraday low of 723. The net turnover during the day was Rs. 19510575.

Source : Equity Bulls

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