Strides Pharma Science declines after its arm recalls over six lakh bottles of Losartan Potassium tablets in US
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Strides Pharma Science is currently trading at Rs. 301.85, down by 12.35 points or 3.93% from its previous closing of Rs. 314.20 on the BSE.
The scrip opened at Rs. 306.70 and has touched a high and low of Rs. 308.90 and Rs. 298.10 respectively. So far 17472 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 847.45 on 11-Jun-2021 and a 52 week low of Rs. 263.45 on 11-May-2022.
Last one week high and low of the scrip stood at Rs. 336.60 and Rs. 298.10 respectively. The current market cap of the company is Rs. 2730.03 crore.
The promoters holding in the company stood at 30.60%, while Institutions and Non-Institutions held 38.48% and 30.92% respectively.
Strides Pharma Science’s wholly owned subsidiary -- Strides Pharma Inc is recalling over six lakh bottles of blood pressure lowering drug Losartan Potassium tablets in the US market in multiple strengths due to deviation from standard manufacturing norms.
The affected lot of tables, in strengths of 25 mg, 50mg and 100 mg, have been manufactured by Vivimed Life Sciences in a Tamil Nadu-based plant and distributed in the US market by New Jersey-based Strides Pharma Inc.
Strides Pharma Science (Formerly Strides Shasun) is a pharmaceutical company with a major focus on development and manufacture of IP-led niche finished dosage formulations. It is also among the world’s largest manufacturers of soft gelatin capsules.
