Strides Pharma Science climbs as its arm gets USFDA`s nod for Levetiracetam Oral Solution
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Strides Pharma Science is currently trading at Rs. 502.85, up by 12.50 points or 2.55% from its previous closing of Rs. 490.35 on the BSE.
The scrip opened at Rs. 491.00 and has touched a high and low of Rs. 509.20 and Rs. 491.00 respectively. So far 15082 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 549.00 on 25-Sep-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. 509.20 and Rs. 473.00 respectively. The current market cap of the company is Rs. 4620.01 crore.
The promoters holding in the company stood at 27.78%, while Institutions and Non-Institutions held 37.16% and 35.06% respectively.
Strides Pharma Science’s step?down wholly owned subsidiary -- Strides Pharma Global, Singapore, has received approval for Levetiracetam Oral Solution USP, 100 mg/mL, from the United States Food & Drug Administration (USFDA).
The product is bioequivalent and therapeutically equivalent to the Reference Listed Drug (RLD), Keppra Oral Solution, 100 mg/mL of UCB, Inc. It is used in the treatment of seizures. The Levetiracetam Oral Solution has a market size of around $55 million as per IQVIA. The product will be manufactured at the company’s facility in Bengaluru.
The company has 260 cumulative ANDA filings (including the recently acquired portfolio from Endo at Chestnut Ridge) with USFDA, of which 230+ ANDAs have been approved. The company has set a target to launch around 60 new products over three years in the US.
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.
