Strides Pharma Inc. gets EIR from USFDA for Riviera Beach facility, Florida, US

Strides Pharma Inc. gets EIR from USFDA for Riviera Beach facility, Florida, US

Strides Pharma Science Limited
 on Monday announced that its step down subsidiary, Strides Pharma Inc. (SPI), has received an Establishment Inspection Report (EIR) from the USFDA for its facility in Riviera Beach, Florida, US. The EIR was issued as an outcome of the USFDA’s inspection of the facility in December 2019. This facility is one of the very few manufacturing facilities in the US with a soft gel capsule (SGC) manufacturing suite for formulations with containment needs.

Strides is one of the global leaders in Rx SGC with a vast portfolio of approved SGCs in the US and other regulated markets. The inspection outcome will bolster the company’s fast-growing SGC franchise in the US and will also help accelerate our foray into the private label opportunity with “in market for market” products. Strides will kickstart the site transfers of its existing SGC portfolio to the site with immediate effect.

In the future, Strides plans to expand additional dosage format suites at the Florida facility, which will mirror the capabilities of its formulations facility in Singapore and will help the company to tap opportunities under various federal government procurement programs, including procurements administered by the Department of Veterans Affairs (VA). 

Strides Pharma Science Ltd is currently trading at Rs390.55 up by Rs3.75 or 0.97% from its previous closing of Rs386.80 on the BSE.

The scrip opened at Rs389.40 and has touched a high and low of Rs393 and Rs388.40 respectively. So far 1,42,592 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs3,463.90cr.

About Gosip4U

Gosip4U is the digital wing of india - India's leading media and communications group with its interests spanning across country.


Post a Comment

Please add comment