Strides Arcolab spurts on getting USFDA’s approval for oral dosage facility

Strides Arcolab is currently trading at Rs. 489.00, up by 23.00 points or 4.94 % from its previous closing of Rs. 466.00 on the BSE. The scrip opened at Rs. 468.80 and has touched a high and low of Rs. 490.55 and Rs. 468.80 respectively. So far 103963 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1050.00 on 05-Dec-2013 and a 52 week low of Rs. 343.80 on 26-Feb-2014. Last one week high and low of the scrip stood at Rs. 474.00 and Rs. 451.00 respectively. The current market cap of the company is Rs. 2913.95 crore. The promoters holding in the company stood at 27.67 % while Institutions and Non-Institutions held 51.95 % and 20.38 % respectively. Strides Arcolab’s oral dosage forms manufacturing site (KRS Gardens) in Bangalore was recently inspected by the USFDA as part of GMP compliance audit and the facility continues to be approved. The last USFDA inspection and approval for this facility was in the year 2011. The KRS Gardens facility in Bangalore manufactures oral dosage forms such as tablets, capsules (both hard gelatine and soft gelatine) and sachets. The manufacturing plant supports important current and future submissions for the US market. Strides Arcolab is a global pharmaceutical company headquartered in Bangalore, India that develops and manufactures wide range of IP-lead niche pharmaceutical products with an emphasis on sterile injectables.