Strides Arcolab gets USFDA nod for anaesthetic injection

Drug firm Strides Arcolab today said it has received approval from the US health regulator for Midazolam Hydrochloride injection used for induction of general anaesthesia.

United States Food and Drug Administration (USFDA) gave approval to Midazolam Hydrochloride injection (preservative-free) in the strengths of 1 mg/mL(2,5 mL) and 5 mg/mL(1,2mL) single dose vials, Strides said in a statement.

"According to IMS data, total market for Midazolam in the US in 2009 approximated $51 million," it added.

It further said that the market size of the approved strengths of single dose vials which are to be launched in near future is USD 31 million.

"Midazolam will be launched under the partnership between Strides and Sagent pharmaceuticals, wherein Strides is developing and supplying more than 25 injectable products for the US market which will be marketed by Sagent," Strides said.

Shares of Strides were trading today at Rs 410.40 on the Bombay Stock Exchange (BSE) in the afternoon, up 5.03 per cent from its previous close.