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Strides Shasun receives USFDA nod for Centrizine Softgel Capsules

The company on Monday has received approval from the USFDA for Centrizine Hydrochloride Capsules, 10mg (Liquid filled Capsules) (OTC)
According to IRI data, the US market for Centrizine Hydrochloride Capsules (Softgel) is approximately USD 60 million, with only one generic player. The product will be manufactured at the company flagship facility at Bangalore and marketed by Strides Shasun Inc. in the US market. The product is ready for launch immediately and as in the case of OTC products.

This is the first approval for a Softgel product after the recent USFDA inspection at the company’s Bangalore facility.

Centrizine is a antihistamine used to relieve allergy symptoms such as watery eyes, runny nose, sneezing, hives and itching.
Strides Shasun Limited, formerly Strides Arcolab Limited, is a vertically integrated global pharmaceutical company. The Company is engaged in the development and manufacturing of active pharmaceutical ingredients (APIs) and formulations, as well as biotech.

Stock view:

Strides Shasun Ltd is currently trading at Rs 1079, down by Rs 0.45 or 0.04% from its previous closing of Rs 1079.45 on the BSE.

The scrip opened at Rs 1091 and has touched a high and low of Rs 1098 and Rs 1078.5 respectively. So far 38631(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 9658.16 crore.

The BSE group ‘A’ stock of face value Rs 10 has touched a 52 week high of Rs 1259 on 03-Feb-2017 and a 52 week low of Rs 848.5 on 24-May-2017. Last one week high and low of the scrip stood at Rs 1085.75 and Rs 1028.75 respectively.

The promoters holding in the company stood at 31.12 % while Institutions and Non-Institutions held 49.4 % and 19.47 % respectively.