Strides Pharma Science Limited (Strides) has received approval from the USFDA for Icosapent Ethyl Capsules 0.5 gram and 1 gram. The product is a generic version of Vascepa, which has a market size of approximately USD1.3 billion. The capsules will be manufactured at Strides’ facility in Bengaluru. Strides has set a target to launch approximately 60 new products in the US over the next three years.
This is a positive development for Strides, as it expands its portfolio of generic drugs in the US market. Icosapent Ethyl Capsules are used to treat high levels of triglycerides in adults. With this product’s approval, Strides can offer a more affordable alternative to patients who need this medication.
The launch of this product is also aligned with Strides’ goal of expanding its presence in the US market. The company has set a target to launch approximately 60 new products in the US over the next three years. This will help Strides to increase its market share and profitability in the US market.
About Icosapent Ethyl Capsule
Icosapent Ethyl Capsule is a prescription medication used in conjunction with other medicines like statins to reduce the risk of heart attack, stroke and heart issues in those afflicted with cardiovascular disease. The product complements Strides’ range of approved soft gelatin capsules. The Icosapent Ethyl Capsules has a market size of USD 1.3 billion as per IQVIA.
Strides Pharma Science Ltd is a pharmaceutical company that develops and manufactures pharmaceutical products. The company’s products are sold in over 100 countries. Strides have always used an inorganic growth strategy, which has allowed it to expand into new markets, add new business segments and therapy segments, and build new manufacturing facilities. The company has a market cap of over Rs 4,500 crore.
On Monday, shares of Strides Pharma Science Ltd gained 4.26% to Rs 518.60 per share from its previous closing of Rs 498.65 per share. The stock is up by 25% in 1 month and 90% in 6 months.
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