Strides Pharma Science trades marginally lower despite USFDA nod

Strides Pharma Science

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Strides Pharma Science share price were trading marginally lower in the early trade on October 5 despite its step down wholly owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, has received approval for Efavirenz (600mg), Emtricitabine (200mg), Tenofovir Disproxil Fumurate (300mg), (EET) tablets from the United States Food & Drug Administration (USFDA).

At 09:30 am, Strides Pharma Science was quoting at Rs 506.40, down Rs 1.80, or 0.35 percent on the BSE.

The product is bioequivalent and therapeutically equivalent to the Reference Listed Drug (RLD), Atripla Tablets of Gilead Sciences LLC.

The approval adds to a list of products that Strides has approved in this therapeutic category through the PEPFAR pathway taking the total to 15 products.

The product will be manufactured at the company’s facility in Bengaluru.

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The PEPFAR approval for Strides qualifies the Company to participate in global donor funded programs that procure this lifesaving medicine and it is supplied in ~10 countries. As of full year 2022, donor procurement for EET Tabletsis estimated at a value of ~15mn USD. This product further strengthens the available offerings in HIV treatment from Strides.

The company has 260 cumulative ANDA filings (including the recently acquired portfolio from Endo at Chestnut Ridge) with USFDA, of which 230+ ANDAs have been approved. The company has set a target to launch ~ 60 new products over three years in the US.

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