Shares of Strides Pharma Science Ltd jumped as much as 4.3 per cent to Rs 488, their highest since May 18 as Strides Pharma Global Singapore has got approval from US FDA for two key abbreviated new drug applications.
“Strides Pharma Global Pte. Ltd, Singapore, received ANDA ‘acceptable for filing’ correspondence from the US Food and Drug Administration (USFDA) for two key ANDAs that met the prioritisation factors as a potential first generic,” Strides Pharma Science had said in a regulatory filing yesterday.
The company said the two products could be eligible for a potential 180-day exclusivity deal. Quoting IQVIA MAT data, Strides Pharma Science said the US market for these products cumulatively is $550 million.
About 1.5 million shares traded as of 0404 GMT vs 30-day average of 2.7 million. Up to Tuesday's close, the stock had fallen 41 per cent this year.