Strides Pharma Science announced that based on the letter issued to all manufacturers of Ranitidine, the USFDA has requested to withdraw all Rx
and OTC Ranitidine drugs from the market immediately. As a result, Strides has ceased further distribution of the product. Besides, Strides will work with the agency regarding the request to withdraw the product
from the market immediately.
Strides also intends to work on generating the required additional data which is requested by the agency to consider allowing Ranitidine product back on the US market. The Company anticipates this activity would take a significant period and shall continue to provide updates. Ranitidine is one of the top 5 products for Strides in the US market, and at this point of time, the Company is estimating the full impact on the revenues due to the USFDA requested withdrawal of Ranitidine.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
