Strides Pharma share price

Strides Pharma Gains 2.81% as USFDA Approves New Fluoxetine 60 mg Tablets

Big news for Strides Pharma Science Ltd! On Monday, the company’s stock surged 2.81% after its step-down subsidiary in Singapore received USFDA approval for Fluoxetine 60 mg tablets. This new approval strengthens Strides Pharma’s presence in the lucrative Fluoxetine market, building on earlier successes in 2024.

USFDA Approval Boosts Strides Pharma’s Position in Fluoxetine Market

Strides Pharma Global Pte Ltd, a step-down subsidiary of Strides Pharma Science, has just received USFDA approval for its Fluoxetine 60 mg tablets. This approval comes on the heels of previous approvals for Fluoxetine 10 mg and 20 mg tablets, as well as capsules, in April 2024. The newly approved 60 mg tablet is equivalent to the Fluoxetine Tablets 60 mg by TWi Pharmaceuticals, Inc., giving Strides a more comprehensive portfolio to cater to varying patient needs in the US market.

Strides Expands Fluoxetine Portfolio in the US Market

Strides Pharma’s ability to offer Fluoxetine in 10 mg, 20 mg, and 60 mg strengths across both tablets and capsules positions the company as a major player in the Fluoxetine market, which has an estimated size of $130 million, according to IMS. With these approvals, Strides Pharma is set to launch all three strengths soon, providing enhanced flexibility for doctors and patients alike.

The newly approved 60 mg tablets will be manufactured at the company’s Puducherry facility, expanding Strides Pharma’s manufacturing capabilities and boosting its competitive edge.

Why This Approval Matters: Fluoxetine and Its Importance

Fluoxetine is a widely prescribed antidepressant, belonging to the Selective Serotonin Reuptake Inhibitor (SSRI) class. It’s used in the treatment of various mental health disorders, including:

Major Depressive Disorder (MDD)
Obsessive-Compulsive Disorder (OCD)
Bulimia Nervosa
Panic Disorder (with or without agoraphobia)

The approval for Fluoxetine 60 mg tablets allows Strides to further penetrate the antidepressant market, enhancing availability and treatment options for patients across the US.

Strides Pharma’s Stock Gains 2.81% on USFDA Approval

The news of the USFDA approval triggered a positive reaction in the stock market, Strides Pharma share price, with shares of Strides Pharma Science Ltd closing at ₹1,391.55, up by ₹38.05 or 2.81% on the Bombay Stock Exchange (BSE). This price surge underscores investor confidence in the company’s ability to strengthen its product offerings and expand its footprint in the highly competitive US pharmaceutical market.

Conclusion:

Strides Pharma’s latest USFDA approval for Fluoxetine 60 mg tablets is a significant milestone in its expansion strategy. By offering a full range of Fluoxetine strengths, Strides is poised to capture a larger share of the $130 million Fluoxetine market. Strides Pharma share price, As the company prepares to launch these products, its strengthened presence in the antidepressant segment will likely drive further growth and investor confidence.

FAQs:

1.What is the latest USFDA approval for Strides Pharma?

A. Strides Pharma received approval for Fluoxetine 60 mg tablets from the USFDA.

2.What does this approval mean for Strides Pharma?

A. This approval strengthens Strides Pharma’s presence in the Fluoxetine market, offering a broader range of antidepressant strengths.

3.How many strengths of Fluoxetine does Strides Pharma now offer?

A. Strides Pharma offers Fluoxetine in 10 mg, 20 mg, and 60 mg strengths across both capsules and tablets.

4.What is Fluoxetine used to treat?

A. Fluoxetine is an antidepressant used to treat Major Depressive Disorder (MDD), Obsessive-Compulsive Disorder (OCD), Bulimia Nervosa, and Panic Disorder.

5.Where will Strides Pharma manufacture Fluoxetine tablets?

A. The Fluoxetine tablets will be manufactured at Strides Pharma’s facility in Puducherry.

6.What is the market size for Fluoxetine in the US?

A. The Fluoxetine market in the US is estimated to be worth $130 million, according to IMS data.

7.What impact did the USFDA approval have on Strides Pharma’s stock?

A. Strides Pharma’s stock closed 2.81% higher on the BSE following the announcement of the USFDA approval.

8.When did Strides Pharma receive approvals for other Fluoxetine products?

A. Strides Pharma received USFDA approval for Fluoxetine 10 mg and 20 mg tablets, as well as capsules, in April 2024.

9.What is the total share price gain for Strides Pharma after the approval?

A. Shares of Strides Pharma Science Ltd ended at ₹1,391.55, up by ₹38.05, or 2.81%, on the BSE.

10.How will Strides Pharma’s expanded Fluoxetine portfolio benefit patients?

A. The expanded Fluoxetine portfolio allows for greater flexibility in dosing, helping doctors better tailor treatment for a wider range of patient needs.