Strides Arcolab slipped 0.23% to Rs 197.40 at 10:55 IST on BSE, even as the company said it has secured US Food & Drug Administration approval for two of its abbreviated new drug application for Dexamethasone injection USP in multiple strengths.
The company made this announcement during trading hours today, 2 September 2008.
The stock hit a high of Rs 203 and a low of Rs 196.35 so far during the day. The stock has a 52-week high of Rs 328 on 12 December 2007 and a 52-week low of Rs 112 on 4 July 2008.
The company’s current equity is Rs 40.05. Face value per share is Rs 10.
In July 2008, Strides Arcolab’s joint venture firm Onco Therapies signed an in-licensing deal with multinational corporation GlaxoSmithKline.
In June 2008, the company received abbreviated new drug application approval for its Famotidine injection in multiple strengths.
On 26 May 2008, Strides Arcolab received abbreviated new drug application approval for Rifampicin injection USP 600 milligram/vial.
Strides Arcolab reported a loss of Rs 55.96 crore in Q2 June 2008 as against net profit of Rs 10.18 crore in Q2 June 2007. Net sales rose 52.8% to Rs 160.78 crore in Q2 June 2008 over Q2 June 2007.
The company manufactures ethical pharmaceutical products, over the counter (OTC) products and nutraceuticals. It performs its activities through two segments, pharma and contract research and manufacturing (CRAM).
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