Strides Pharma's Arm Gets US FDA Approval For Pain Relief Tablets
Strides Pharma has received the approval for Acetaminophen and Ibuprofen over-the-counter tablets of 125 mg and 250 mg from the US FDA.
Strides Pharma Science Ltd. announced on Monday that it's stepdown wholly owned subsidiary, Strides Pharma Global Pte., Singapore, has received approval from the US Food & Drug Administration for pain relief tablets.
The company has received the approval for Acetaminophen and Ibuprofen over-the-counter tablets of 125 mg and 250 mg from the US FDA, according to an exchange filing.
The product is bioequivalent to the reference listed drug Advil Dual Action with Acetaminophen (an over-the-counter drug, also available in 125 mg and 250 mg), of Haleon US Holdings LLC, as per the filing.
The addition of the Acetaminophen and Ibuprofen tablets will significantly enhance the company's existing portfolio of OTC products, the filing said.
The company aims to cater to a broader patient base, by offering a dual-action pain relief option, providing effective and accessible solutions for pain management.
The Acetaminophen and Ibuprofen tablets will be manufactured at the company’s flagship facility in KRSG, Bengaluru.
The combination of Acetaminophen and Ibuprofen is used to relieve pain from various conditions, such as headaches, dental pain, menstrual cramps, muscle aches, or arthritis.
While, Ibuprofen is a nonsteroidal anti-inflammatory drug or NSAID. This combination product works by blocking your body's production of certain natural substances that cause inflammation. This effect helps decrease swelling, pain, or fever.
Shares of Strides Pharma closed 2.15% lower to Rs 610.75 apiece, compared to a 0.61% advance at the benchmark NSE Nifty 50. It has fallen 10.64% in the last 12 months basis.
Two analysts tracking the company suggest a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analysts' price target implies a potential upside of 79.3%.
