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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 company's 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 Friday's closing price. Strides Pharma Science shares also hit their 52-week high of Rs 539.