Strides Arcolab at new high on FDA nod for anti-bacterial drug

Strides Arcolab has rallied 5% to Rs 629, its lifetime high market price, after the company said it has received approval from the USFDA for Vancomycin Hydrochloride Capsules, an antibacterial indicated to treat infections that include C. difficile-associated diarrhea and enterocolitis caused by Staphylococcus aureus.

“According to IMS health data, Vancomycin Hydrochloride Capsules had total US sales of $332 million for the twelve months ending February 12, with no prior generic products. It is immediately available in 125 mg and 250 mg dosage strengths," Strides Arcolab said in a filing to the stock exchanges.

The product will be launched immediately through Alvogen on a profit share basis, it added. A combined 221,351 shares have changed hands on the counter till noon trades on both the exchanges.