Strides Pharma

Strides Pharma Science on Tuesday reported a consolidated net loss of Rs 82 crore for the third quarter ended December 31, 2022. The drug firm had reported a net loss of Rs 127 crore in the October-December quarter of previous fiscal. Revenue from operations rose to Rs 865 crore for the quarter under review as against Rs 794 crore in the year-ago period, the company said in a regulatory filing. On a standalone basis, the company reported a net profit of Rs 12 crore as against a net loss of Rs 18 crore in the year-ago period, it added. The Bengaluru-based firm said the profit during the quarter was impacted by loss from JV and associates on account of inventory write off related to Covid portfolio. "We continue to focus on a profitable outcome for the business and have, by design, let go of several low margin businesses," Strides Pharma Science Founder, Managing Director and Executive Chairperson Arun Kumar said.

Strides Pharma Science Ltd on Thursday said its wholly-owned arm, Strides Pharma Global Pte Ltd, has received approval from the US health regulator for generic naproxen sodium softgel capsules, used to treat pain or inflammation. The approval by the US Food & Drug Administration (USFDA) is for naproxen sodium softgel capsules of 220 mg strength (over the counter), the company said in a regulatory filing. It is bioequivalent and therapeutically equivalent to the reference-listed drug, naproxen sodium capsules, 220 mg of Bionpharma Inc, it added. The product will be manufactured at the company's Bengaluru facility. Naproxen sodium softgel capsules is a nonsteroidal anti-inflammatory drug used to treat pain or inflammation caused by conditions such as arthritis, ankylosing spondylitis, tendinitis, bursitis, gout, or menstrual cramps, the company said. Strides said it is focusing on building a private label business in the US by leveraging its portfolio of products across soft gels, .

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Strides Pharma Science on Thursday said its subsidiary has received EU-GMP certification for two of its manufacturing facilities from Hungary's National Institute of Pharmacy and Nutrition

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Branded as Kovidax, Strides' generic version of the Pfizer oral treatment will be launched in 95 markets as part of the sub-licensing agreement with Medicines Patent Pool (MPP), the drug firm said

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Company expects growth momentum in the US to pick up in coming quarters driven by new product launches

A muted sales performance accompanied with a drop in gross margins and relatively higher operating costs has led to a negative operating leverage in the first half of FY22

Company to launch generic products to aid Covid-19 treatment in India, first being Liposomal Amphotericin B to treat black fungus

We finally witnessed a decisive price and volume breakout from the recent congestion zone in Strides Pharma

Vaccine unit will manufacture up to 800 million doses of vaccines annually

India has now become one of the biggest producers of Sputnik V outside of Russia. Other countries that are producing it include South Korea, Brazil and China

Entity Stelis Biopharma to require up to $100-mn additional funds in 3 years

Former HDFC Bank managing director Aditya Puri has joined global pharma major Strides Group as an advisor and will also serve as a director of its associate company Stelis Biopharma.

In talks with global players seeking manufacturing opportunity for potential Covid-19 vaccine

Drug firm Strides Pharma Science on Tuesday said its step down subsidiary has received approval from the US health regulator for Ethacrynic Acid tablets, used to treat fluid retention (edema)

The company had reported a strong improvement in profitability in Q1 despite Ranitidine suspension in Q4.

The company reported strong performance across all businesses in Q1FY21 despite significant disruptions and ambiguity in the business environment due to Covid 19.

Drug firm Strides Pharma Science on Thursday said it has received approval from the US health regulator for generic Prednisone tablets used as an anti-inflammatory medication. Strides Pharma Global Pte Ltd, Singapore, company's step-down wholly owned subsidiary, has received approval for Prednisone tablets USP in the strength of 1 mg from the United States Food & Drug Administration (USFDA), Strides Pharma Science said in a filing to the BSE. The product is a generic version of Schering Corporation's Meticorten tablets in the same strength, it added. The product will be manufactured at the company's facility at Bengaluru and will be marketed by Strides Pharma Inc in the US market,the filing said. According to IQVIA MAT July 2020 data, the US market for Prednisone tablets USP 1 mg is approximately USD 12 million (about Rs 88 crore), it added. Prednisone belongs to a class of drugs known as corticosteroids and is used as an anti-inflammatory or an immunosuppressant medication. It i