India's Strides Pharma rises on US FDA nod for drug to treat asthma, lung diseases

Strides Pharma Science

06/09/2024 07:16

** Shares of Strides Pharma Science  SRID.NS  rise 2.4% to
1,376.8 rupees 
    ** The pharma products maker's unit gets approval from U.S.
Food and Drug Administration for generic version of a drug used
to treat chronic asthma and lung diseases like emphysema and
bronchitis
    ** The drug - Theophylline extended-release tablet -  has a
market size of $11.5 million, as per pharma analytics and
research firm IQVIA 
    ** SRID shares up 113% in 2024 so far, helped by steady
earnings and U.S. drug regulator approvals for several key
products 

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))