Strides Pharma slumps despite getting nod from USFDA for Ursodiol capsules
The global pharmaceutical company, Strides Pharma announced on Monday that its step-down wholly-owned subsidiary, Strides Pharma Global Pte Limited (Singapore) has received approval for Ursodiol capsules USP from United States Food & Drug Administration (USFDA).
Reacting to the news, its share rose almost 3 per cent on BSE.
Ursodiol capsules USP, 300 mg is used in the treatment of patients with primary biliary cirrhosis (PBC). The product is bioequivalent and therapeutically equivalent to Actigall capsules, 300 mg, of Allergan Sales, LLC. The US market for the capsule is approximately USD 45 million, according to IQVIA MAT November 2020 data.
Strides Pharma is engaged in the manufacture of pharmaceutical dosage forms in branded as well generic categories. Location-wise, its revenue mix comprises 59 per cent from North America, 19 per cent from Europe, 11 per cent from Africa, 7 per cent from Australia, 2 per cent from India, 1 per cent from Asia and 1 per cent from other markets.
At 2.17 pm today, the share of Strides Pharma Science Limited was trading 0.61 per cent higher at Rs 852.85. It recorded an intraday high of Rs 874.8 and an intraday low of Rs 808.95 on BSE.