Strides Arcolab, a pharmaceutical company manufacturing IP-led niche products, said Friday the company has received approval from the United States Food & Drug Administration (USFDA) for Benzonatate Softgel Capsules USP, 100 mg and 200 mg.
According to IMS data, the US market for Benzonatate is approximately USD 41 million.
The product will be manufactured at the company's Oral dosage facility at Bangalore and marketed by Strides in the US market. The product will be launched immediately.
Shares of the company gained Rs 17.35, or 1.38%, to trade at Rs 1,275.25. The total volume of shares traded was 32,956 at the BSE (12.34 p.m., Friday).