Strides Pharma Science share price gained in the opening trade on April 30 after the company's US-based arm acquires 4 ANDAs for US market from Nostrum Laboratories Inc.
At 09:24am, Strides Pharma Science was quoting at Rs 657.40, up Rs 4.85, or 0.74 percent, on the BSE.
Strides Pharma Inc., a step-down wholly owned subsidiary of the company in the US, has acquired four approved ANDAs for the US market from Nostrum Laboratories, Inc., USA.
The portfolio consists of liquids and immediate release solid orals which are in the therapeutic segment to treat infections associated with UTIs (Urinary Tract Infections), Pain Management, Allergy Symptoms and Attention Deficit Disorder (ADD/ ADHD) and Narcolepsy, company said.
The total consideration for the said ANDAs acquisition is USD 2.075 million (~ Rs 176 million).
Two (out of the four) ANDAs acquired are commercial products and is expected to be launched within 12 months.
With access to these products, Strides will expand its portfolio of niche and difficult to manufacture products.
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The share touched a 52-week high of Rs 1,675.25 and a 52-week low of Rs 530.70 on 17 October, 2024 and 27 January, 2025, respectively.
Currently, the stock is trading 60.76 percent below its 52-week high and 23.87 percent above its 52-week low.
The market capitalisation stands at Rs 6,058.78 crore.
The share price shed more than 56 percent in the last six months.
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