Strides Pharma receives tentative approval for Triamcinolone Acetonide
Strides Pharma Science Limited informed the bourses today that its step‐down wholly-owned subsidiary, Strides Pharma Global Pte Limited (Singapore) has received a tentative approval for Triamcinolone Acetonide Ointment USP 0.05 per cent from the United States Food & Drug Administration (USFDA).
Triamcinolone Acetonide Ointment belongs to a class of medications called corticosteroids. It is used to treat itching, redness, dryness, crusting, scaling, inflammation and discomfort of various skin conditions, including psoriasis.
According to IQVIA MAT data, the US market for Triamcinolone Acetonide Ointment USP 0.05 per cent is approximately US$ 20 million. The product will be manufactured at the company’s oral dosage facility at Bangalore and will be marketed by Strides Pharma Inc. in the US market.
The final approval for Strides will be effective from May 30, 2020 when the company will launch the product.
The stock of Strides was trading in positive terrain today. The stock which opened at Rs 415.25 increased to touch an intraday high of Rs 420.6 apiece. At 11.49 am, the stock was trading at Rs 419.3, up by 1.7 per cent from previous close.