Drug firm Strides Pharma Science Tuesday said its joint venture (JV) firm has received approval from the US health regulator for Albendazole tablets, used in the treatment of certain infections caused by tapeworm.
Strides Vivimed Pte Ltd, Singapore, a 50:50 joint venture with Vivimed Labs, has received approval from the United States Food & Drug Administration (US FDA) for Albendazole tablets in the strength of 200 mg, Strides Pharma Science said in a BSE filing.
This is the second generic approval by US FDA for Albendazole tablets, the company added.
Strides Pharma Science said the approved product is a generic version of Amneal Pharmaceuticals Inc's Albenza tablets.
Quoting IQVIA MAT data, Strides Pharma Science said the US market for Albendazole tablets USP 200 mg is approximately USD 100 million.
Shares of Strides Pharma Science were trading 1.22 per cent higher at Rs 436 apiece on BSE.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.