Strides Pharma re-launching Ranitidine tablets for the US market
Strides Pharma announced that it is re-launching Ranitidine tablets for the US market. The USFDA had tested numerous Ranitidine tablets, available in the market, over the past few months and released a summary of the results. In its summary, the agency indicated that they were asking companies to recall their ranitidine tablets, voluntarily, if NDMA levels were found to be more than the acceptable limits. NMDA in Strides’ Ranitidine tablets were within the acceptable limits.
The Pharma giant has gained approvals for Ranitidine tablets USP 150 mg and 300 mg. According to IQVIA MAT data, the US market for Ranitidine tablets USP 150 mg and 300 mg is approximately US$76 Mn. The company has approvals of several OTC strengths as well but is yet to commercialize these products.
This Bangalore-headquartered company has a global manufacturing footprint, with 51 subsidiaries, 3 joint ventures, and 4 associate companies. It owns 8 production units, spread across 3 continents. The products of the company include pharmaceutical dosage forms for both branded and generic drugs and a spectrum of ethical pharmaceutical products, OTC products, and nutraceuticals.
On Friday, the stock of Strides Pharma opened at Rs. 402 per share and made an intraday high and low of Rs. 409.65 and Rs. 398, respectively, on BSE. At 2.20 pm the stock was trading at Rs. 403, up by 1.19 per cent.