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Strides Pharma gains 6% as JV receives approval for Albendazole tablets

The stock moved higher by 6.4% to Rs 458 on BSE after the company announced that its JV has received USFDA nod for tapeworm infection treatment drug.

SI Reporter  |  Mumbai 

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Shares of Science moved higher by 6.4% to Rs 458 apiece on after the company announced its 50:50 joint venture (JV) Strides Vivimed, Singapore has received approval for USP 200 mg from the United States Food & Drug Administration (US FDA).

This is the second generic approval by for to be launched immediately. is a generic version of Albenza tablets of Amneal Pharmaceuticals Inc.

Albendazole is an anthelmintic medication used to treat certain infections caused by 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, was up 5.7% at Rs 455 on BSE, as compared to a 0.33% decline in the S&P Sensex. A combined 1.09 million equity shares changed hands on the counter on and so far.

First Published: Tue, December 11 2018. 11:35 IST
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