Page 3 - Strides Pharma News Today

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

Promoters held 28.07 per cent stake in the company as of 30-Jun-2023, while FIIs owned 16.72 per cent, DIIs 19.59 per cent.

Strides Pharma has received the FDAs clearance for generic Suprep Bowel Prep Kit Oral Solution and generic Keppra Oral Solution.

The companys wholly owned step-down subsidiary, Strides Pharma Global Pte. Limited, Singapore, has received approval.

Strides Pharma Share Price: trides Pharma Science Ltd's (Strides) step‐down wholly-owned subsidiary received the approval for Levetiracetam Oral Solution USP, 100 mg/mL. Strides Pharma said it would manufacture the product at its facility in Bengaluru.

Additionally, as part of the transaction, Rxilient Biohub will assume the long-term lease obligation associated with the manufacturing site from Strides

This sale will also help Strides to reduce annual costs by Rs 75 crore, of which Rs 18 crore will be reduction in operating expenses and Rs 57 crore in depreciation and operating lease expenses. Strides said the Transaction would be EPS (earnings per share) accretive with no impact on revenues.

13.75 lakh shares of Strides Pharma Sciences changed hands, following which, the stock price sank over 1.5 percent

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 companys product is bioequivalent and therapeutically equivalent to Atripla Tablets of Gilead Sciences LLC, it added. As per per IQVIA, Efavirenz, Emtricitabine and Tenofovir Disoproxil Fumurate tablet (EET) has a market opportunity of USD 7.5 million in the US.