Strides Pharma Science share price: USFDA approval pushes stock 1.64% higher

Strides Pharma Science Limited’s shares rose 1.64 per cent after the company announced that its subsidiary, Strides Pharma Global Pte Limited, Singapore, received approval from the USFDA for Sevelamer Carbonate Tablets, 800 mg.  

The company informed that the approval strengthens its position in the Sevelamer segment, complementing its existing approval for Sevelamer for Oral Suspension. Sevelamer Carbonate is a phosphate binder used to prevent hypocalcemia caused by elevated phosphorus levels. The market size for Sevelamer Carbonate Tablets, 800 mg, is estimated to be approximately $181 million.  

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The tablets will be manufactured at the company’s facility in Puducherry. Strides Pharma has 260 cumulative ANDA filings with the USFDA, with over 245 ANDAs approved. The company aims to launch around 60 new products over three years in the US market. Sevelamer Carbonate is used to manage elevated levels of phosphate in the blood of patients with chronic kidney disease by binding to dietary phosphate and preventing its absorption. 

The company’s shares increased 1.64 per cent to ₹845.10 at 1.10 pm on the BSE.