Pharma Science News Today

Strides Pharma Science posted a net profit of Rs 10.4 crore in Q4FY24, rebounding from a loss of Rs 1 crore in the same period last year. Pre-tax profit was Rs 29.6 crore.

The companys Singapore-based step-down wholly-owned subsidiary, Strides Pharma Global Pte Ltd, has received approval for Fluoxetine Tabs (10 and 20 mg) from the US Food & Drug Administration (USFDA), the drug firm said in a regulatory filing.

Strides Pharma Share Price | It will respond to these observations comprehensively to FDA within the stipulated time, the pharmaceutical firm has said

SBI Mutual Fund picked additional 2.25 lakh shares at same average price in VST Industries

Geojit recommended accumulate rating on Strides Pharma Science with a target price of Rs 731 in its research report dated December 26, 2023.

The company has received approval for Efavirenz (600mg), Emtricitabine (200mg), Tenofovir Disproxil Fumurate (300mg), (EET) tablets from the United States Food & Drug Administration (USFDA).

The product is bioequivalent and therapeutically equivalent to the reference listed drug Vascepa of Amarin. It will be manufactured at the companys facility in Bengaluru, it added. The Icosapent Ethyl capsules have a market size of around USD 1.3 billion, Strides said, citing IQVIA.

From the Sensex stocks, Tata Steel, L&T, UltraTech Cement, and Titan opened in the green, while TCS, Asian Paints, Kotak Bank, and Axis Bank opened in the red.

Strides Pharma Science on Monday said it would spin off its contract development and manufacturing organisation (CDMO) and soft gelatin business into a new entity which would list in the next 12-16 months.

The announcement was made by the company ahead of the market closing. The stock settled at Rs 536 on the NSE, up Rs 37, or 7% over Fridays closing price. Strides Pharma Science shares also hit their 52-week high of Rs 539.