Strides gets USFDA nod for Bangalore unit's product

Drug firm Strides Arcolab today said it has received US health regulator's approval to market a product from its new facility in Karnataka.

The approval by the US food and Drug Administration is for commercialising the first liquid injection sterile product from the company's new sterile injectable complex in Bangalore, Strides Arcolab said in a statement.

The company, however, said it was not in a position to disclose the name of the product due to confidentiality.

"The USFDA approval for the product from the new site will go a long way in ameliorating product shortages in the critical therapeutic areas," Agila Specialties CEO Venkat Iyer said.

Agila Specialties is a wholly-owned specialities division of the company.

"Two significant product approvals from the new facility augur well for the launch of a series of products in the USA during 2011," he added.

Strides had earlier announced approval for Vancomycin injection, an antibiotic used to treat serious bacterial infections, from its new facility in Bangalore. It has already started the supplies to the US market from March, 2011.

Shares of Strides Arcolab were today trading at Rs 388.50 in the afternoon trade on the Bombay Stock Exchange, up 1.16 per cent from its previous close.