Strides Shasun advances 3% on launch of Ranitidine OTC tablets

Share price of Strides Shasun advanced nearly 3 percent intraday Monday as the company is going to launch Ranitidine OTC tablets in the US market.

The company will launch Ranitidine Tablets USP, 150 mg (OTC) in the US markets.

Strides is already a key player in the US Ranitidine Rx market with 32 percent market share through its approval for Ranitidine Tablets USP, 150 mg and 300 mg. The new launch will further strengthen company’s Ranitidine franchise, company said in press release.

The US OTC market for Ranitidine Tablets, which is the generic form of the popular brand Zantac, is approximately USD 200 million, as per IRI data.

This is the first product approval from company’s 50:50 JV with Vivimed Labs. The product will be backward integrated and will be manufactured at the JV’s oral dosage facility in Chennai.

The company will have exclusive marketing rights for the product in the US and the product will be launched immediately.

The company has 82 cumulative ANDA filings with USFDA (including its JV with Vivimed) of which 50 ANDAs have been approved as of date and 32 are pending approval.

At 11:32 hrs Strides Shasun was quoting at Rs 712.45, up Rs 19.55, or 2.82 percent on the BSE.moneycontrol