Strides Pharma shares went up slightly on April 30 morning after the company announced that its US-based arm has acquired four approved drug applications (ANDAs) for the American market. The share was trading at Rs 657.40 on the BSE, up by 0.74 percent at 09:24 AM.
These ANDAs have been purchased from Nostrum Laboratories Inc., a US-based company. The total value of this deal is around USD 2.075 million, which is approximately Rs 176 crore.
The newly acquired products include both liquid and solid oral drugs. They are used to treat a variety of conditions such as urinary tract infections (UTIs), pain, allergy symptoms, Attention Deficit Disorder (ADD/ADHD), and narcolepsy. Strides said that two of these four drugs are already commercial and expected to be launched within the next 12 months.
The acquisition will enhance Strides’ market footprint in the field of niche and difficult-to-manufacture drugs in the US market where demand is high for them.
The stock has been very volatile over the past 52 weeks. It touched its 52-week high of Rs 1,675.25 on October 17, 2024, and its 52-week low of Rs 530.70 on January 27, 2025. Currently, the stock is trading around 61 percent lower than its 52-week high and around 24 percent higher than its 52-week low.
Even with the gain today, the stock has declined by more than 56 percent in the last half-year period. The current market value of the company has come down to Rs 6,058.78 crore.
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Source: Moneycontrol.
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