Strides Pharma Science announced that the formulations facility in Bangalore recently underwent pre-approval product inspection by the USFDA. The inspection ended on August 25, 2018 and the company has been issued a Form 483 with 3 observations.

The company believes that the observations are not material in nature and we have already responded to the USFDA.

The company has recently (post completion of the inspection) received a product approval for Potassium Chloride Extended Release Tablets from this facility.

Shares of the company gained Rs 8.45, or 1.72%, to settle at Rs 500.75. The total volume of shares traded was 141,951 at the BSE (Tuesday).