Strides Arcolab announced that it has received approval from the United States Food & Drug Administration (USFDA) for Methoxsalen capsules USP, 10 mg (soft Gelatin Capsules).
According to IMS data, the US market for generic Methoxsalen Capsule is approximately USD 13.6 million, with no generic player.
The product will be manufactured at the company's USFDA approved oral dosage facility at Bangalore and marketed directly by Strides in the US market.
Shares of the company gained Rs 10.95, or 2%, to trade at Rs 558.40. The total volume of shares traded was 30,657 at the BSE (10.16 a.m., Friday).