Strides announces successful completion of US FDA inspection at its Singapore facility

Strides Pharma Science Limited (Strides) has announced that its formulation facility at Singapore underwent a USFDA inspection that ended on August 8, 2022. The inspection was completed successfully with Zero 483 observations.

US is one of the key focus markets for Strides and the company has given a growth outlook of US$250m in FY23 for the US business. The company has set a target to launch ~ 20 new products every year in the US. The company has 279 cumulative ANDA filings (including recently acquired portfolio from Endo at Chestnut Ridge) with USFDA of which 259 ANDAs have been approved and 20 are pending approval. The company has a diversified manufacturing base with 5 USFDA approved facilities which are capable of catering to multiple dosage formats including niche capabilities in controlled Substances, Hormones, Nasal Sprays, Gels, Modified Release products, Liquids.

Shares of Strides Pharma Science Limited was last trading in BSE at Rs. 340.95 as compared to the previous close of Rs. 345.20. The total number of shares traded during the day was 7774 in over 510 trades.

The stock hit an intraday high of Rs. 345.55 and intraday low of 339.90. The net turnover during the day was Rs. 2655929.00.

Source : Equity Bulls

Keywords

StridesPharmaScience INE939A01011 Singapore FormulationFacility USFDAInspection Zero483Observations