Strides Pharma gets USFDA tentative nod for Triamcinolone Acetonide Ointment; stock up 1%

Strides Pharma gets USFDA tentative nod for Triamcinolone Acetonide Ointment; stock up 1%
Strides Pharma Science Limited (Strides) announced that it's step‐down wholly-owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, has received tentative approval for Triamcinolone Acetonide Ointment USP, 0.05% from the  United States Food & Drug Administration (USFDA).    

While it was amongst the few Competitive Generic Therapy (CGT) designated products for  Strides, another generic company received approval prior to our approval. Consequently, the final approval for Strides will be effective May 30, 2020 when the company will launch the product.   

According to IQVIA MAT data, the US market for Triamcinolone Acetonide Ointment USP,  0.05% is approximately US$ 20 mn. The product will be manufactured at the company’s Oral dosage facility at Bangalore and will be marketed by Strides Pharma Inc. in the US market.    

The company has 102 cumulative ANDA filings with USFDA of which 69 ANDAs have been approved and 33 are pending approval.  

Strides Pharma Science Ltd is currently trading at Rs416.35, up by Rs4.1 or 0.99% from its previous closing of Rs412.25 on the BSE.

The scrip opened at Rs415.25 and has touched a high and low of Rs420.60 and Rs412.05 respectively.




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