Strides Pharma rose 2.96% to Rs 891.4 after the drug company announced that its step-down wholly owned subsidiary has received US drug regulator's approval for Prednisone tablets.
The product is bioequivalent and therapeutically equivalent to the Reference Listed Drug (RLD), Deltasone tablets, 10 mg and 20 mg, of Pharmacia and Upjohn Co. (Pharmacia).According to IQVIA MAT December 2020 data, the US market for Prednisone tablets USP, 10 mg and 20 mg is approximately $60 million. The product will be manufactured at the company's facility at Bengaluru and will be marketed by Strides Pharma Inc. in the US market.
Prednisone belongs to a class of drugs known as corticosteroids and is used as an anti-inflammatory or an immunosuppressant medication. It is used in treatment of different conditions such as allergic disorders, skin conditions, ulcerative colitis, arthritis, lupus, psoriasis, or breathing disorders.
The company has 127 cumulative ANDA filings with United States Food & Drug Administration (USFDA) of which 98 ANDAs have been approved and 29 are pending approval.
Strides Pharma Science is a global pharmaceutical company. It focuses on "difficult to manufacture" products that are sold in over 100 countries. The company has 127 cumulative ANDA filings with USFDA of which 94 ANDAs have been approved and 33 are pending approval.
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