Strides Shasun rose as much as 7% to Rs 969 has after the company got USFDA approval for Ibuprofen Tablets.
“The US markets for Ibuprofen Tablets USP 200 gm (OTC) is approximately $520 million. The approval further strengthens company’s fast growing global OTC franchise. The product will be marketed by Strides Shasun in the US Markets under its OTC brand Nuprin,” the company said in a statement.
At 12:43 pm, the scrip was up 5% at Rs 950 as against the 0.2% fall in S&P BSE Sensex.
On the BSE, 80,000 shares were traded in the counter so far. The stock had hit a high and low of Rs 969 and Rs 903 so far during the day. The stock had last hit a 52-week high of Rs 1,259 on 3 February 2017.
The US health regulator also recently, issued a Form 483 with 3 observations after inspecting the company’s formulations facility in Bangalore. For the month of Maym the company lost over 15% as compared to 4.1% gain in Sensex.
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