Strides Pharma slides 3% despite USFDA approval for Triamcinolone Acetonide cream

Share price of Strides Pharma Science slipped 3 percent intraday Wednesday. The company’s step-down wholly owned subsidiary, Strides Pharma Global Pte, Singapore, has received approval for Triamcinolone Acetonide cream USP, 0.025%, 0.1% and 0.5% from the United States Food & Drug Administration (USFDA).

The product is a generic version of Triamcinolone Acetonide Cream of Mylan Pharmaceuticals Inc.

As per IQVIA MAT data, the US market for Triamcinolone Acetonide Cream USP is approximately USD 55 million.

The product will be manufactured at flagship facility in Bangalore and will be marketed by Strides Pharma Inc. in the US market.

The company has 86 cumulative ANDA filings with USFDA of which 56 ANDAs have been approved including 12 approvals received in FY 19.

At 10:45 hrs Strides Pharma Science was quoting at Rs 402.90, down Rs 9.35, or 2.27 percent on the BSE.

For more market news, click here
First Published on Feb 13, 2019 10:59 am

Leave a Reply

Your email address will not be published. Required fields are marked *