Strides Shasun shares rise over 5% on USFDA approval for new drug

Shares of Strides Shasun today rose by over 5 per cent after the company's subsidiary Strides Pharma Global received final approval from the US health regulator for generic Oseltamivir Phosphate capsules.

The stock gained 3.83 per cent to close at Rs 363.05 on BSE. During the day, it jumped 5.53 per cent to Rs 369.

At NSE, shares of the company rose by 5.28 per cent to end at Rs 368.30.

In terms of equity volume, 12.39 lakh shares of the firm were traded on BSE and over one crore shares changed hands at NSE during the day.

Strides Pharma Global Pte has received approval from the US Food and Drug Administration (USFDA) for the capsules in the strengths of 30 mg (base), 45 mg (base) and 75 mg (base), Strides Shasun said in a BSE filing yesterday.

The product is a generic version of Hoffmann-La Roche Inc's Tamiflu capsules, it added.