Strides Pharma Science provides update on US business

Strides Pharma Science announced that in FY20, the company has reported a strong performance in the US with 9M FY20 revenues of ~US$ 180 million against the outlook of US$220-US$240 million for FY20 (US$150 million in FY19). The growth during the year was driven by market share gains for a base portfolio, including products relaunched through our frontend and introduction of new products.

Despite the discontinuation of Ranitidine, Strides remains confident of its US Business and continues to maintain a positive growth outlook for FY21. As of date, the Company has 123 cumulative ANDA filings with USFDA of which 85 ANDAs have been approved already, and only 35+ products are commercialized in the US. The Company also has a pipeline of 38 products pending approval with the USFDA. The future growth in the US will primarily be driven through improved market shares and healthy order book for our commercialized products, and a robust pipeline of new launches in the market.

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