Shares of Strides Shasun added 3 percent in the early trade on Tuesday as company got an USFDA approval for Ketoconazole tablets USP.
The company’s wholly owned subsidiary Strides Pharma Global Pte has received final approval for Ketoconazole tablets USP, 200 mg from the United States Food & Drug Administration (USFDA).
Ketoconazole tablets is a generic version of Nizoral tablets, 200 mg, of Janssen Pharmaceuticals, Inc.
Ketoconazole is used to treat certain serious fungal infections in the body and it works by stopping the growth of the fungus.
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Ketoconazole tablet is part of the niche and small volume product portfolio with limited competition in the US market.
As per IQVIA MAT April 2018 data, the US market for Ketoconazole tablets was approximately USD 7 Million.
The product will be manufactured at the companys oral dosage facility at Bangalore and will be marketed by Strides Pharma Inc. in the US market.
The company has 75 cumulative ANDA filings with USFDA of which 49 ANDAs have been approved as of date and 26 are pending approval.
At 09:20 hrs Strides Shasun was quoting at Rs 416.65, up Rs 11.80, or 2.91 percent on the BSE.
Posted by Rakesh Patil
First Published on Jun 19, 2018 09:31 am