Moneycontrol News
Shares of Strides Shasun rose more than 4 percent intraday Tuesday on USFDA approval.
The company has received approval from the United States of Food & Drug Administration (USFDA) for Potassium Citrate Extended-Release Tablets USP, 5 mEq, 10 mEq and 15 mEq.
The US market for Potassium Citrate is approximately USD 110 million, as per IMS data.
The company will be the second generic player to commercialize the product.
The product, which is the first approval for an extended release tablet for the company, will be launched immediately.
Potassium Citrate, a urinary alkalinizing agent, is used for preventing certain types of kidney stones.
Recently, the company's Bangalore facility received Establishment Inspection Report (EIR) from the USFDA, which was inspected in May 2017.
At 09:23 hrs Strides Shasun was quoting at Rs 978, up Rs 36.70, or 3.90 percent on the BSE.
Posted by Rakesh Patil
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
