Strides Arcolab rises on receiving US FDA nod for Italian Semi-solids and Oinment facility

Strides Arcolab has received US FDA approval for Beltapharm's facility at Milan, Italy. This state-of-the-art, EU and TGA (Australia) approved facility located in Milan, Italy, manufactures liquids, semi-solids, ointments and creams. The Company is expecting its first approval of a niche semisolid product by Q1 2014. Strides is developing a portfolio of liquids and semi-solids products for the US and EU markets and currently has over 12 products at various stages of development/approvals. Strides already sell semi-solids in the UK market.

Strides Arcolab is currently trading at Rs. 881.00, up by 2.35 points or 0.27% from its previous closing of Rs. 878.65 on the BSE.

The scrip opened at Rs. 882.00 and has touched a high and low of Rs. 892.90 and Rs. 871.00 respectively. So far 4399 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1224.90 on 05-Dec-2012 and a 52 week low of Rs. 552.65 on 01-Aug-2013.

Last one week high and low of the scrip stood at Rs. 917.20 and Rs. 839.00 respectively. The current market cap of the company is Rs. 5218.54 crore.