Strides Pharma Science gains as its arm gets USFDA`s nod for Generic Suprep Bowel Prep Kit
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Strides Pharma Science is currently trading at Rs. 490.00, up by 3.55 points or 0.73% from its previous closing of Rs. 486.45 on the BSE.
The scrip opened at Rs. 490.40 and has touched a high and low of Rs. 495.80 and Rs. 489.55 respectively. So far 1913 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. 4469.78 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 Sodium Sulphate, Potassium Sulphate and Magnesium Sulphate Oral Solution 17.5g/ 3.13g/ 1.6g per 6 ounces (Product) from the United States Food & Drug Administration (USFDA).
The Product is bioequivalent and therapeutically equivalent to the Reference Listed Drug (RLD), Suprep Bowel Prep Kit Oral Solution 17.5g/ 3.13g/ 1.6g per 6 ounces of Braintree Laboratories Inc. (Braintree). The approval bolsters the company's portfolio of products in bowel preparation that spans both prescription and over the counter offerings. The Product has a market size of $143 Million per IQVIA. The Product 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.
