Strides Pharma Science inches up as its arm gets USFDA approval for Colchicine Tablets
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Strides Pharma Science is currently trading at Rs. 331.30, up by 1.80 points or 0.55% from its previous closing of Rs. 329.50 on the BSE.
The scrip opened at Rs. 330.00 and has touched a high and low of Rs. 333.60 and Rs. 323.05 respectively. So far 74196 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 946.80 on 23-Apr-2021 and a 52 week low of Rs. 304.50 on 04-Mar-2022.
Last one week high and low of the scrip stood at Rs. 337.50 and Rs. 304.50 respectively. The current market cap of the company is Rs. 2948.71 crore.
The promoters holding in the company stood at 29.60%, while Institutions and Non-Institutions held 40.93% and 29.47% respectively.
Strides Pharma Science’s (Strides) step-down wholly owned subsidiary, Strides Pharma Global, Singapore, has received approval for Colchicine Tablets USP, 0.6 mg from the United States Food & Drug Administration (USFDA). The product is bioequivalent and therapeutically equivalent to the Reference Listed Drug (RLD), Colcrys Tablets, 0.6 mg, of Takeda Pharmaceuticals U.S.A., Inc. (Takeda).
According to IQVIA MAT January 2022 data, the US market for Colchicine Tablets USP, 0.6 mg is approximately around $ 85 Mn. The product will be manufactured at the company’s facility at Bengaluru and will be marketed by Strides Pharma Inc. in the US market.
The company has 271 cumulative ANDA filings with USFDA of which 245 ANDAs have been approved and 26 are pending approval.
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.
