The announcement was made during market hours today, 11 December 2018.

Meanwhile, the S&P BSE Sensex was up 231.98 points, or 0.66% to 35,191.70

On the BSE, 1.65 lakh shares were traded in the counter so far compared with average daily volumes of 1.34 lakh shares in the past two weeks. The stock had hit a high of Rs 460.90 and a low of Rs 417 so far during the day. The stock hit a 52-week high of Rs 875.72 on 27 December 2017. The stock hit a 52-week low of Rs 334.10 on 8 June 2018.

Strides Pharma Science (Strides) today announced that its 50:50 JV Strides Vivimed Pte., Singapore has received approval for Albendazole Tablets USP 200 mg from the United States Food & Drug Administration (US FDA). This is the second generic approval by US FDA for Albendazole Tablets.

Albendazole Tablets is a generic version of Albenza Tablets of Amneal Pharmaceuticals, Inc. According to IQVIA MAT data, the US market for Albendazole Tablets USP 200 mg is approximately US$ 100 million. Albendazole is an anthelmintic medication used to treat certain infections caused by tapeworm. Albendazole prevents newly hatched insect larvae (worms) from growing or multiplying in the body.

On a consolidated basis, Strides Pharma Science reported net loss of Rs 8.70 crore in Q2 September 2018 as against net profit of Rs 11.73 crore in Q2 September 2017. Net sales declined 4.69% to Rs 732.63 crore in Q2 September 2018 over Q2 September 2017.

Strides Pharma Science is global pharmaceutical company headquartered in Bangalore.