Mr. Yash Gupta – Equity Research Associate, Angel Broking Ltd
“Strides Pharma Science Limited (Strides) today announced that its wholly owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, has received approval for Ethacrynic Acid Tablets USP, 25 mg from the United States Food & Drug Administration (USFDA). . The product is a generic version of Edecrin® Tablets, 25 mg, from Bausch Health Americas, Inc. Based on IQVIA MAT data as of August 2020, the US market for Ethacrynic Acid Tablets USP, 25 mg is approximately 14 US $ million. The product will be manufactured at the company’s flagship plant in Bengaluru and will be marketed by Strides Pharma Inc. in the US market. This is a positive development for the company. “
Shares of Strides Pharma Science Ltd were last traded in BSE at Rs 729.6 from the previous close of Rs. 753.35. The total number of shares traded during the day was 26,370 in more than 1,518 transactions.
The stock reached an intraday high of Rs. 756 and an intraday low of 723. The net turnover during the day was Rs. 19,510,575.
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