Strides Pharma Science moves up as its arm gets USFDA`s nod for Mycophenolate Mofetil for Oral Suspension
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Strides Pharma Science is currently trading at Rs. 437.95, up by 2.00 points or 0.46% from its previous closing of Rs. 435.95 on the BSE.
The scrip opened at Rs. 435.10 and has touched a high and low of Rs. 445.75 and Rs. 435.10 respectively. So far 6078 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 488.85 on 01-Aug-2023 and a 52 week low of Rs. 268.40 on 21-Mar-2023.
Last one week high and low of the scrip stood at Rs. 445.75 and Rs. 425.25 respectively. The current market cap of the company is Rs. 3956.13 crore.
The promoters holding in the company stood at 28.07%, while Institutions and Non-Institutions held 36.72% and 35.21% respectively.
Strides Pharma Science’s step-down wholly owned subsidiary -- Strides Pharma Global, Singapore, has received approval for Mycophenolate Mofetil for Oral Suspension USP, 200 mg/mL, from the United States Food & Drug Administration (USFDA).
The product is bioequivalent and therapeutically equivalent to the Reference Listed Drug (RLD), CellCept for Oral Suspension, 200 mg/mL of Roche Palo Alto, LLC. (Roche). The approval bolsters the company's Mycophenolate Mofetil portfolio, which already includes numerous products in which the company is a market leader.
The Mycophenolate Mofetil for Oral Suspension has a market size of $41 million per IQVIA. The entire Mycophenolate Mofetil range of products for the company has a cumulative market opportunity of $145 million per IQVIA. The products will be manufactured at the company’s facility in Bengaluru.
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.
