Strides gets US FDA nod

Bangalore-based pharmaceutical company Strides Arcolab has received approval from the US health regulator for its new sterile injectable facility in Bangalore. The facility manufactures lyophilised liquid and dry powder injectables.

“With the approval, the overall injectable capacity for the US marker will scale up nearly five-fold and significantly enhance growth opportunities for Strides,” the company said in a release on Monday.

The pharma company, recently, received US FDA approval for two products from its Bangalore facility.

It also said that this approval would fast track commercialisation of all approved injectable ANDA’s in the US market.

Strides Arcolab has posted a 12 per cent rise in its net profit to Rs 123 crore in the last calendar year (January-December) as compared with Rs 110 crore reported in the corresponding period last year.

 

Total revenue of the company want up by 33 per cent to Rs 1,765 crore during last year as compared with Rs 1,328 crore an year earlier.