Strides receives USFDA approval for Efavirenz, Emtricitabine & Tenofovir Disoproxil Fumurate tablets

Strides Pharma Science Limited (Strides) today announced that its stepdown wholly owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, has received approval for Efavirenz (600mg), Emtricitabine (200mg), Tenofovir Disproxil Fumurate (300mg), (EET) tablets from the United States Food & Drug Administration (USFDA).

The product is bioequivalent and therapeutically equivalent to the Reference Listed Drug (RLD), Atripla Tablets of Gilead Sciences LLC. The approval adds to a list of products that Strides has approved in this therapeutic category through the PEPFAR pathway taking the total to 15 products.

The EET tablet has a market opportunity in the US of ~US$ 7.5Mn per IQVIA. The product will be manufactured at the company's facility in Bengaluru.

The PEPFAR approval for Strides qualifies the Company to participate in global donor funded programs that procure this lifesaving medicine and it is supplied in ~10 countries. As of full year 2022, donor procurement for EET Tabletsis estimated at a value of ~15mn USD. This product further strengthens the available offerings in HIV treatment from Strides.

The company has 260 cumulative ANDA filings (including the recently acquired portfolio from Endo at Chestnut Ridge) with USFDA, of which 230+ ANDAs have been approved. The company has set a target to launch ~ 60 new products over three years in the US.

Shares of Strides Pharma Science Limited was last trading in BSE at Rs. 508.20 as compared to the previous close of Rs. 495.75. The total number of shares traded during the day was 49166 in over 5305 trades.

The stock hit an intraday high of Rs. 516.25 and intraday low of 496.60. The net turnover during the day was Rs. 24969403.00.

Source : Equity Bulls

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StridesPharmaScience INE939A01011 StridesPharmaGlobal Approval USFDA