Strides Pharma is very much in the limelight today morning, opening with a gap up and rising over 3% to hit an intraday high at Rs.892.65. Its 52-week high is at Rs.1000.
The company announced today morning that t its step-down wholly owned subsidiary, Strides Pharma Global Pte, Singapore, has received approval for Prednisone Tablets USP, 10 mg and 20 mg from the United States Food & Drug Administration (USFDA).
The product is bioequivalent and therapeutically equivalent to Deltasone Tablets of Pharmacia and Upjohn Co. (Pharmacia).
According to IQVIA MAT December 2020 data, the US market for Prednisone Tablets is approximately US$ 60 Mn.
The product will be manufactured at the company’s facility at Bengaluru and will be marketed by Strides Pharma Inc. in the US market.
The company has 127 cumulative ANDA filings with USFDA of which 98 ANDAs have been approved and 29 are pending approval.