The market saw a rise of 1.31% in Strides Pharma Science as soon as the company received an approval from the United States Food & Drug Administration (USFDA) for their Tetracycline Hydrochloride capsules. The subsidiary of Strides Pharma Science, Strides Pharma Global has introduced an antibiotic which helps in treating various bacterial infections of skin, intestines, respiratory tract, urinary tract, genitals, lymph nodes and several other body parts. Tetracycline Hydrochloride capsules come into the picture when other antibiotics like penicillin cannot be used in the treatment of major infections such as Anthrax, Listeria, Clostridium and Actinomyces.
Tetracycline Hydrochloride is a moderate version of capsules by the name of Achromycin V, which were manufactured by Avet Pharmaceuticals incorporation. The company has planned that these capsules will be manufactured in Bangalore, India and marketed in American market as the data by IQVIA MAT says that the market for these capsules in US market is approximately $16 million.
Strides Pharma Science has a presence in numerous countries around the globe and manufactures drugs for various ailment. When it comes to Abbreviated new drug application (ANDA), the company has over total 123 fillings with USFDA, out of which 84 are approved and 39 are still awaited.
After USFDA’s approval company is looking for an upward trend in the profitability as the previous year it had a decline of net profit, irrespective of rise in the net sales.