Strides Shasun rises 5% on USFDA approval for Tamiflu capsules

Share price of Strides Shasun added 5.5 percent in the early trade on Tuesday as company received USFDA approval for Oseltamivir Phosphate capsules.

The company's wholly owned subsidiary Strides Pharma Global Pte has received final approval for Oseltamivir Phosphate Capsules USP, 30 mg (base), 45 mg (base), and 75 mg (base) from the USFDA (United States Food & Drug Administration).

Oseltamivir Phosphate capsules is a generic version of Tamiflu Capsules of Hoffmann-La Roche, Inc.

Oseltamivir Phosphate Capsule is prescribed to treat symptoms caused by the flu virus (influenza). It helps make the symptoms such as stuffy nose, cough, sore throat, fever/chills, aches, and tiredness less severe and shortens the recovery time.

Oseltamivir Phosphate Capsules registered a significant volume growth due to one of the worst flu seasons in the US last year, company said in release.

As per IQVIA MAT April 2018 data, the US market for Oseltamivir Phosphate capsules was approximately USD 725 million, it added.

The product will be manufactured at the company’s 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 48 ANDAs have been approved as of date and 27 are pending approval.

At 09:28 hrs Strides Shasun was quoting at Rs 364.55, up Rs 14.90, or 4.26 percent.