Strides Pharma Science shares zoom 12% after its arm receives USFDA approval for Dolutegravir tablets

Strides Pharma Science share price: Pharmaceutical company Strides Pharma Science shares rallied on Friday for the third straight day and zoomed nearly 12 per cent to clock a fresh 52-week high of Rs 522.75, surpassing the previous 52-week high of Rs 490.05, clocked on September 8, 2023. The stock jumped after its wholly-owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, received tentative approval for Dolutegravir 50mg tablets from the United States Food & Drug Administration (USFDA). Strides Pharma Science shares closed 5.29 per cent or Rs 24.75 higher at 492.9 on NSE.

The product is bioequivalent and therapeutically equivalent to the reference-listed drug (RLD), Tivicay Tablets, of ViiV Healthcare Company. The products will be manufactured at the company’s facility in Bengaluru, and conversion of this tentative approval to a full approval is expected upon expiry of the constraining patents. The company has 260 cumulative ANDA filings (including the recently acquired portfolio from Endo at Chestnut Ridge) with the USFDA, of which 230+ ANDAs have been approved. The company is eyeing around 60 new product launches over the next three years in the US.

Here's how the counter moved on Friday, Sepetmber 15:

Source: NSE

What are Dolutegravir 50mg tablets?

Belonging to a class of medication, Dolutegravir tablets are known as antiretrovirals. The medication is the first line of antiretroval therapy (ART) for treatment-naïve patients. It works by preventing the multiplication of the virus in human cells.

What does Strides do?

Strides is a global pharmaceutical company headquartered in Bengaluru. The company mainly operates in regulated markets and has an "in Africa for Africa" strategy and an institutional business to service donor-funded markets.

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