Strides Pharma Science Limited (Strides) today announced that its step‐down wholly owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, has received tentative approval for its New Drug Application (NDA) 505b2 of Dolutegravir/ Lamivudine/ Tenofovir Disproxil Fumurate 50mg/ 300mg/ 300mg tablets from the United States Food & Drug Administration (USFDA). The Product will be manufactured at the company's facility in Bengaluru.
Approval of this product under the PEPFAR program completes Strides' qualification to all major markets and donor programs including Global Fund and South Africa.
The PEPFAR tentative approval for Strides qualifies the Company to participate in the PEPFAR programs that procure this lifesaving medicine. Through country tenders and donor funded programs it is estimated that the value of procurement for Dolutegravir/ Lamivudine/ Tenofovir Disproxil Fumurate 50mg/ 300mg/ 300mg tablets is ~650mn USD.
The Company has 260+ cumulative NDA/ ANDA filings with USFDA, of which 230+ ANDAs have been approved. The Company has set a target to launch ~ 60 new products over the next three years in the US.
Shares of Strides Pharma Science Limited was last trading in BSE at Rs. 468.45 as compared to the previous close of Rs. 466.00. The total number of shares traded during the day was 13243 in over 1031 trades.
The stock hit an intraday high of Rs. 471.10 and intraday low of 463.10. The net turnover during the day was Rs. 6177464.00.