Strides receives USFDA nod to manufacture constipation drug at its Bangalore plant
US market for Polyethylene Glycol 3350, powder for solution is around $260 million
New Delhi: Strides Shasun Thursday said it has received an approval from the US health regulator for Polyethylene Elycol 3350 used for treating constipation.
In a BSE filing, Strides Shasun said: "It has received approval from the US Food and Drug Administration (USFDA) for Polyethylene Glycol 3350, powder for solution 17 grams/capful and 17 grams/packet (OTC)".
The company said it will manufacture the product at its Bangalore plant and launch the product in the fourth quarter of this fiscal.
Quoting IMS sales data, Strides Shasun said the US market for Polyethylene Glycol 3350, powder for solution is around $260 million.
Strides Shasun's shares were trading 0.88 percent higher at Rs 973.50 apiece on BSE.
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Domestic market indices BSE Sensex and NSE Nifty 50 bounced back from intra-day lows, but ended the day in red at the closing bell on Thursday.
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