Strides Shasun Gets US Regulator's Nod For Intestinal Ulcer Drug

New Delhi: Strides Shasun on Wednesday said it has received approval from the US Food and Drug Administration (FDA) for Ranitidine tablets used for treating intestinal and stomach ulcers and gastroesophageal reflux disease.

Strides Shasun said in a filing to the BSE that "it has received approval from the US Food and Drug Administration for Ranitidine tablets USP, 150 mg and 300 mg". 

The company will manufacture the product at its Cuddalore and Pondicherry facilities.

According to IMS sales data, the US market for Ranitidine tablets USP, 150 mg and 300 mg is around $125 million.

Shares in Strides Shasun ended 0.78 per cent higher at Rs 965 apiece on the BSE, whose benchmark Sensex index finished up 0.25 per cent.