Strides Pharma Science Ltd Share Price – NSE  / BSE

Pharmaceuticals, Small Cap

The product is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Fluoxetine Tablets of TWi Pharmaceuticals, Inc.

Fluoxetine is an antidepressant of the Selective Serotonin Reuptake Inhibitor (SSRI) class. It is used for the treatment of Major Depressive Disorder (MDD), Obsessive–Compulsive Disorder (OCD), Bulimia Nervosa, Panic Disorder, with or without Agoraphobia.

With the approval of the Fluoxetine Tablets, the company is now positioned to offer a complete portfolio of Fluoxetine across capsules and tablets in 10 mg, 20 mg and 60 mg strengths. Fluoxetine capsules and tablets have a combined market size of around $130 million as per (Intercontinental Marketing Services Health Inc) IMS.

The addition of the Fluoxetine Tablets will allow for enhanced flexibility in dosing, catering to a broader spectrum of patient needs. The company plans to launch all three strengths in the near future. The Fluoxetine tablets will be manufactured at the company’s facility in Puducherry.

Strides Pharma Science is engaged in develops and manufactures a wide range of IP-led niche Pharmaceutical products.

The company reported a consolidated net profit of Rs 70.20 crore in Q1 FY25 as against a net loss of Rs 7.11 crore posted in Q1 FY24. Revenue from operations stood at Rs 1,087.50 crore in the quarter ended June 2024, registering a growth of 16.93% YoY.

The counter hit an all-time high of Rs 1,430.80 in intraday today.

Powered by Capital Market - Live News

Strides Pharma Science announced that its step-down wholly owned subsidiary, Strides Pharma Global, Singapore, has received approval for Fluoxetine Tabs 60 mg, from the United States Food & Drug Administration (USFDA). The product is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Fluoxetine Tablets, 60 mg, of TWi Pharmaceuticals, Inc.

With the approval of the Fluoxetine Tabs 60 mg strength, the Company is now positioned to offer a complete portfolio of Fluoxetine across Capsules and Tablets in 10 mg, 20 mg, and 60 mg strengths.

Fluoxetine Capsules and Tablets have a combined market size of ~US$ 130 Mn as per IMS. The addition of the Fluoxetine Tabs 60 mg will allow for enhanced flexibility in dosing, catering to a broader spectrum of patient needs.

The Company plans to launch all three strengths in the near future. The Fluoxetine tablets will be manufactured at the company's facility in Puducherry.

Powered by Capital Market - Live News

Strides Pharma Science (Strides) today announced that it has secured the approval of its equity shareholders and secured creditors with overwhelming majority , along with those of OneSource Specialty Pharma and SteriScience Specialties, in meetings convened under the guidance of the Hon'ble National Company Law Tribunal (NCLT). All the secured creditors who voted on the Scheme for the three Companies in their respective meetings, were in favour of the Scheme.

This is a critical step in the creation of OneSource and the support from Shareholders and Secured Creditors underscores the confidence in the Company's strategic initiative to create OneSource - India's first specialty pharma Contract Development and Manufacturing Organization (CDMO) covering advanced sectors like biologics, complex injectables, and oral technologies, including soft-gelatin capsules.

In September 2023, Strides announced its strategic initiative to create OneSource as an Independent Specialty Pharma CDMO by integrating the Oral Technologies (Soft Gelatin Capsules) business from Strides, Sterile Injectables business of SteriScience Specialty and the Biologics and high-end drug devices combination business of OneSource (erstwhile Stelis).

Having already received Stock Exchange approvals in May 2024, this latest approval from Equity Shareholders and Secured Creditors marks a significant milestone. The Company will now seek final approval from the Hon'ble NCLT, Mumbai Bench, and upon its receipt, OneSource will proceed to seek listing approvals from the BSE and NSE.

Powered by Capital Market - Live News

Strides Pharma Science announced that the Annual General Meeting (AGM) of the company will be held on 25 September 2024.

Powered by Capital Market - Live News