Strides Pharma hits a fresh 52-week high; stock gains 14% in one week

The company had reported a strong improvement in profitability in Q1 despite Ranitidine suspension in Q4.

Shares of Strides Pharma Science hit a fresh 52-week high of Rs 753, up 6 per cent on the BSE on Tuesday in an otherwise subdued market. In comparison, the S&P BSE Sensex was 0.26 per cent down at 37,882 points at 12:48 pm.

The stock of the pharmaceutical company has rallied 14 per cent in the past one week after its subsidiary, Strides Pharma Global Pte Ltd, received approval from the United States Food and Drug Administration (USFDA) for Butalbital, Acetaminophen, and Caffeine tablets, used to treat tension headache.

The approved product is bioequivalent and therapeutically equivalent to the