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13-Feb2019

Strides Pharma Science surges with its arm receiving approval for Triamcinolone Acetonide Cream

Strides Pharma Science is currently trading at Rs. 416.55, up by 4.30 points or 1.04% from its previous closing of Rs. 412.25 on the BSE.

The scrip opened at Rs. 416.50 and has touched a high and low of Rs. 420.00 and Rs. 414.60 respectively. So far 6140 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 760.73 on 14-Feb-2018 and a 52 week low of Rs. 334.10 on 08-Jun-2018.

Last one week high and low of the scrip stood at Rs. 446.00 and Rs. 398.05 respectively. The current market cap of the company is Rs. 3691.68 crore.

The promoters holding in the company stood at 30.79%, while Institutions and Non-Institutions held 47.61% and 21.60% respectively.

Strides Pharma Science's step‚Äźdown wholly owned subsidiary -- Strides Pharma Global, Singapore, has received approval for Triamcinolone Acetonide Cream USP, 0.025%, 0.1% and 0.5% from the United States Food & Drug Administration (USFDA).

The product is a generic version of Triamcinolone Acetonide Cream of Mylan Pharmaceuticals Inc. According to IQVIA MAT data, the US market for Triamcinolone Acetonide Cream USP, 0.025%, 0.1% and 0.5% is approximately $55 million. The product will be manufactured at flagship facility in Bangalore and will be marketed by Strides Pharma Inc. in the US market.

Strides Pharma Science (Formerly Strides Shasun) is a pharmaceutical company with a major focus on development and manufacture of IP-led niche finished dosage formulations. It is also among the world's largest manufacturers of soft gelatin capsules.



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