Strides Shasun said on Saturday the company has received approval from the United States Food & Drug Administration (USFDA) for Dutasteride Capsules, 0.5 mg. The product is ready for Day 1 launch.

According to IMS data, the US market for Dutasteride Capsules is approximately USD 470 Million. The product has gone off patent on November 20, 2015 and Strides Shasun is amongst the first wave of generic players to receive this approval.

The product will be manufactured at the company's oral dosage facility at Bangalore and marketed by Strides Shasun in the US Market.

Shares of the company gained Rs 32.6, or 2.39%, to trade at Rs 1,395.40. The total volume of shares traded was 8,396 at the BSE (9.21 a.m., Monday).