Strides Arcolab advanced over 6% and touched 52-week high of Rs628.50, after the company said its wholly owned subsidiary, Onco Therapies, has received approval from USFDA.
Strides Arcolab said Methotrexate is amongst the products in the drug shortage list of US Food and Drug Administration . According to IMS data, the generic Methotrexate Injection has annual sales of approximately $13 million in the United States.
Methotrexate is part of the Oncology portfolio licensed to Pfizer in January 2010 for the US market and expected to be launched shortly, the company said. Methotrexate is a chemotherapy drug used either alone or in combination with other agents. It is used as a treatment for some autoimmune diseases including: rheumatoid arthritis, psoriasis, psoriatic arthritis, lupus and Crohn's disease, to name a few, Strides said in a statement.
On a consolidated basis, Strides Arcolab's net profit galloped 2900.4% to Rs68.41 crore on 50.7% growth in net sales to Rs686.47 crore in Q4 December 2011 over Q4 December 2010.
Strides Arcolab is a global pharmaceutical company headquartered in Bangalore. The company develops a wide range of IP-led niche pharmaceutical products with an emphasis on sterile injectables. It has 13 manufacturing facilities across 5 countries with presence in more than 75 countries in developed and emerging markets
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Strides Arcolab said Methotrexate is amongst the products in the drug shortage list of US Food and Drug Administration . According to IMS data, the generic Methotrexate Injection has annual sales of approximately $13 million in the United States.
Methotrexate is part of the Oncology portfolio licensed to Pfizer in January 2010 for the US market and expected to be launched shortly, the company said. Methotrexate is a chemotherapy drug used either alone or in combination with other agents. It is used as a treatment for some autoimmune diseases including: rheumatoid arthritis, psoriasis, psoriatic arthritis, lupus and Crohn's disease, to name a few, Strides said in a statement.
On a consolidated basis, Strides Arcolab's net profit galloped 2900.4% to Rs68.41 crore on 50.7% growth in net sales to Rs686.47 crore in Q4 December 2011 over Q4 December 2010.
Strides Arcolab is a global pharmaceutical company headquartered in Bangalore. The company develops a wide range of IP-led niche pharmaceutical products with an emphasis on sterile injectables. It has 13 manufacturing facilities across 5 countries with presence in more than 75 countries in developed and emerging markets
....more info