Shares in Strides Shasun gained ground after the company received US FDA Nod. The company said said it received approval from the US Food and Drug Administration for cetirizine hydrochloride capsules, used to relieve allergy symptoms.
In a notice to the stock exchanges, Strides Shasun said, "It has received approval from the US FDA for cetirizine hydrochloride capsules, 10mg (liquid filled capsules OTC)".
The company said the product will be manufactured at its facility in Bengaluru and is ready for launch. Quoting IRI data, Strides Shasun said the US market for cetirizine hydrochloride capsules is approximately USD 60 million, with only one other generic player. Shares of the company were trading 0.16 per cent higher at Rs 1,089 on BSE.
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