Strides Shasun wins USFDA approval

Strides Shasun bags approval from United State Food & Drug Administration (USFDA) for Ranitidine Tablets USP, 150 mg and 300 mg. According to IMS data, US market for Ranitidine Tablets USP 150 mg and 300 mg is approximately USD 125 million (Rs 838.8 crore).

Ranitidine tablet is the first integrated product approval where the API and formulations will be manufactured at erstwhile, Shasun Pharmaceutical’s Cuddalore and Pondicherry facilities respectively. Ranitidine is used to treat ulcers of the stomach and intestines, and prevent backfiring.

The share price of Strides Shasun has increased by 2.45 per cent on bourses in early trades; and is trading at Rs 969.1 on an intraday basis.

Strides Shasun develops and manufactures intellectual property (IP)-led pharmaceutical products. It operates through Pharmaceutical and Biotech segments. Its Branded Generics' segment offers its products in multiple therapeutic categories, such as central nervous system (CNS), cardio vascular, women's health, diabetes, pain management and also offers its flagship brand ReNerve, under vitamins, minerals and supplements category.