Strides Arcolab is trading higher by 2% at Rs 1,147 after the company said that its wholly owned subsidiary has received ANDA approval for Ifosfamide injection for 50 mg.
According to MIS data, the US market for generic Ifosfamide is approximately $15 million, Strides said in a statement.
"Ifosfamide is part of the Oncology portfolio licensed to Pfizer for the US market and the product is available for immediate launch," added the release.
The stock opened at Rs 1,158 and hit new high of Rs 1,211 on the BSE. About 712,973 shares have changed hands on the counter so far on both the exchanges.
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