Strides Pharma soars on arm getting USFDA’s tentative nod for Diclofenac Potassium Softgel Capsules.

Strides Pharma Science is currently trading at Rs. 381.30, up by 4.15 points or 1.10% from its previous closing of Rs. 377.15 on the BSE.

The scrip opened at Rs. 379.20 and has touched a high and low of Rs. 382.75 and Rs. 375.50 respectively. So far 92906 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 550.40 on 22-Jan-2019 and a 52 week low of Rs. 288.00 on 09-Oct-2019.

Last one week high and low of the scrip stood at Rs. 394.85 and Rs. 375.10 respectively. The current market cap of the company is Rs. 3407.49 crore.

The promoters holding in the company stood at 31.28%, while Institutions and Non-Institutions held 46.45% and 22.27% respectively.

Strides Pharma Science’s step‐down wholly owned subsidiary, Strides Pharma Global Pte, Singapore, has received tentative approval for Diclofenac Potassium Softgel Capsules, 25 mg from the United States Food & Drug Administration (USFDA). The product is a generic version of Zipsor Capsules, 25 mg, of Assertio Therapeutics, Inc. Diclofenac Potassium Softgel Capsules is part of Strides niche and small volume product portfolio with limited competition in the US market. According to IQVIA MAT data, the US market for Diclofenac Potassium Softgel Capsules, 25 mg is approximately $30 million.

The company has 102 cumulative ANDA filings with USFDA of which 67 ANDAs have been approved and 35 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.

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