Shares of pharmaceutical companies were in focus on Monday with Nifty Pharma index hitting a fresh record high of 12,836 on the National Stock Exchange (NSE) in an otherwise subdued market. Cipla, Cadila Healthcare, Lupin, Sun Pharmaceutical Industries and Aurobindo Pharma from the Nifty Pharma index were up in the range of 1 per cent to 2 per cent on the NSE. Meanwhile, Marksans Pharma, Suven Pharma, Novartis, Indoco Remedies, Glenmark Pharmaceuticals, Dr. Lal PathLabs, RPG Life Sciences, Strides Pharma Science and Laurus Labs from the S&P BSE Healthcare index were up between 2 per cent and 5 per cent. In comparison, the benchmark indices, Nifty50 and S&P BSE Sensex were trading flat at 13,742 points and 46,999 points, respectively, at 10:02 am.
Strides Pharma Science announced that its step-down wholly owned subsidiary, Strides Pharma Global, Singapore, has received
approval for Oxybutynin Chloride Tablets USP, 5 mg from the United States Food & Drug Administration (USFDA).
The product is bioequivalent and therapeutically equivalent to the Reference Listed Drug (RLD), Ditropan Tablets, 5 mg, of Janssen Pharmaceuticals, Inc.
According to IQVIA MAT October 2020 data, the US market for Oxybutynin Chloride Tablets USP,
5 mg is approximately US$ 29 Mn. The product will be manufactured at the company s flagship facility
at Bengaluru and will be marketed by Strides Pharma Inc. in the US market.
The company has 127 cumulative ANDA filings with USFDA of which 94 ANDAs have been approved
Year-ender 2020 | 26 stocks turn Multibagger in 2020; what should investors do?
After falling 40 percent from its previous record high levels seen in January due to COVID-19 crisis, the market rebounded sharply to register over 82 percent gains. Sunil Shankar Matkar December 18, 2020 / 02:02 PM IST
For investors, calender 2020 has been a year of highest of highs and lowest of lows. After crashing to multi-year lows in March, benchmark indices have seen an unprecedented bull run which has now lead it to record-high levels. The breadth of the market has also been resilient with broader markets currently sitting near their January 2018 peak levels.
The BSE Sensex, as well as Nifty50, rallied around 13 percent each, while the BSE Midcap and Smallcap indices outperformed frontliners, rising 19 percent and 30 percent respectively. All the leading sectors, except Bankex, participated in the run.
Strides Pharma Science rose 2.26% to Rs 788.50 after the drug maker announced that its step-down subsidiary has received approval for oxybutynin chloride tablets from the US drug regulator.The product is bioequivalent and therapeutically equivalent to the Reference Listed Drug (RLD), Ditropan tablets, 5 mg, of Janssen Pharmaceuticals, Inc.
The drug belongs to a class of drugs known as antispasmodics, used to treat overactive bladder and urinary conditions. It relaxes the muscles in the bladder to help decrease problems of urgency and frequent urination.
According to IQVIA MAT October 2020 data, the US market for oxybutynin chloride tablets is approximately $29 million. The company will manufacture the product at its Bengaluru facility. It will be marketed by Strides Pharma Inc. in the US market.