Strides Arcolab Ltd ("Strides") today announced receipt of 2 ANDA approvals for Dexamethasone Injection USP, 4mg/ml, (1ml Single-dose Vials, 20mg/5 ml, 120 mg /30 ml Multiple dose Vials) and Dexamethasone Sodium Phosphate Injection USP, 10 mg /ml, (10 ml Multiple-dose Vials).
The products are licensed to Akorn-Strides, LLC, which is a Joint Venture that was formed in 2004 by Akorn Inc [NASDAW : AKRX] and Strides Arcolab Ltd.
Ravi Seth, Chief Executive Officer - International Operations of Strides stated: "We are pleased to announce that the Akorn Strides partnership has now received eleven ANDA approvals of the 18 filed till date and commercialization in case of some of these products has already commenced effective Q3, 2008.
The stock closed the day at Rs.203.10, up by Rs.5.25 or 2.65%. The stock hit an intraday high of Rs.206.70 and low of Rs.195.20.
The total traded quantity was 92510 compared to 2 week average of 39694.
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