Strides Pharma Science announced that it has entered into a strategic partnership with Orbicular Pharmaceutical to develop, manufacture and commercialize nasal sprays for the global markets.
Orbicular, a speciality pharmaceutical company focused on research and product development, will use its expertise in drug delivery and formulation to develop nasal sprays for global markets.
Strides will commercialize these nasal sprays across the markets using its commercial engine in the US, Europe, and several other markets. The products will be manufactured at its Chestnut Ridge, New York facility. The site has been in continuous operation for four decades with approval from USFDA and Drug Enforcement Administration (DEA) with a strong compliance track record.
Strides acquired this facility in October 2021 from Endo Inc.
The partnership will commercialize four nasal sprays with a combined Global IQVIA market size in excess of $400m.
The market has reacted positively to this news; from its close of yesterday at Rs.338.35, it opened cautiously optimistic at Rs.340 and rose to an intraday high at Rs.351.55. Its 52-week high is at Rs.392.20.