May 05, 2011, 05.43 PM | Source: Moneycontrol.com
Strides Arcolab Thursday said it has got approval from US Food and Drug Adminstrator for its general anesthetic injection, Midazolam in multiple-dose vials.
The pharmaceutical company has got approval to market Midazolam injection of 1 mg/ml packaged in 10mg/10 ml multiple-dose vials and 5mg/ml packages in 25 mg/5ml and 50 mg/10ml multiple-dose vials.
Midazolam Injection will be launched in the third quarter of 2011-12, in partnership with US-based Sagent Pharmaceuticals and aims to address over 95% of the sterile injectable market for Midazolam in the US.
The total market for Midazolam in the USA is about USD 51 million, according to IMS September 2010 data, the company said in a press release to the stock exchanges.
At 13:50 hrs, shares of Strides Arcolab was trading at Rs 389.35, down 1% on the Bombay Stock Exchange.