 "Strides Pharma gains 6% as JV receives approval for Albendazole tablets")
Shares of Strides Pharma Science moved higher by 6.4% to Rs 458 apiece on BSE after the company announced its 50:50 joint venture (JV) Strides Vivimed, Singapore has received approval for Albendazole tablets USP 200 mg from the United States Food & Drug Administration (US FDA).
This is the second generic approval by US FDA for Albendazole tablets to be launched immediately. Albendazole Tablets is a generic version of Albenza tablets of Amneal Pharmaceuticals Inc.
Albendazole is an anthelmintic medication used to treat certain infections caused by tapeworm. Albendazole prevents newly hatched insect larvae (worms) from growing or multiplying in the body.
The US market for Albendazole tablets USP 200mg is approximately US$ 100 million, according to IQVIA MAT data.
At 11:33 am, Strides Pharma was up 5.7% at Rs 455 on BSE, as compared to a 0.33% decline in the S&P BSE Sensex. A combined 1.09 million equity shares changed hands on the counter on BSE and NSE so far.
This is the second generic approval by US FDA for Albendazole tablets to be launched immediately. Albendazole Tablets is a generic version of Albenza tablets of Amneal Pharmaceuticals Inc.
Albendazole is an anthelmintic medication used to treat certain infections caused by tapeworm. Albendazole prevents newly hatched insect larvae (worms) from growing or multiplying in the body.
The US market for Albendazole tablets USP 200mg is approximately US$ 100 million, according to IQVIA MAT data.
At 11:33 am, Strides Pharma was up 5.7% at Rs 455 on BSE, as compared to a 0.33% decline in the S&P BSE Sensex. A combined 1.09 million equity shares changed hands on the counter on BSE and NSE so far.
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