Strides Pharma Science shares saw a notable increase in early trading on April 30, following the announcement of its US-based subsidiary's acquisition of four ANDAs from Nostrum Laboratories Inc. These acquisitions are poised to strengthen Strides' position in the US market.
Market Performance
- Current Share Price: Rs 657.40 (up by Rs 4.85 or 0.74% on BSE)
- 52-Week High: Rs 1,675.25 (October 17, 2024)
- 52-Week Low: Rs 530.70 (January 27, 2025)
- Market Capitalization: Rs 6,058.78 crore
- 6-Month Performance: The share price has dropped more than 56% in the last six months. It is currently trading 60.76% below its 52-week high and 23.87% above its 52-week low.
Main News
Strides Pharma's US-based subsidiary, Strides Pharma Inc., has acquired four approved ANDAs (Abbreviated New Drug Applications) from Nostrum Laboratories Inc., USA. The acquisition is expected to enhance Strides' product portfolio in the US, particularly in the therapeutic areas of:
- Urinary Tract Infections (UTIs)
- Pain Management
- Allergy Symptoms
- Attention Deficit Disorder (ADD/ADHD)
- Narcolepsy
Company Details
- Acquisition Cost: USD 2.075 million (~ Rs 176 million)
- Products Involved: The acquired portfolio includes liquid and immediate-release solid oral formulations.
- Launch Timeline: Two of the acquired ANDAs are commercial products expected to launch within 12 months.
- Strategic Impact: This acquisition allows Strides to diversify and expand its portfolio, focusing on niche and difficult-to-manufacture products, giving it a competitive edge in the US market.
Summary
The acquisition of four ANDAs for the US market represents a significant step for Strides Pharma Science in expanding its global footprint. The company's strategic move strengthens its portfolio in key therapeutic areas and sets the stage for growth in the competitive US pharmaceutical market. Despite recent stock volatility, the market reacted favorably to the announcement, underscoring investors' confidence in the company's prospects.
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