Strides receives US FDA approval for two drugs

Pharmaceutical firm Strides Arcolab on Monday said it has received US regulatory approval for its two new drugs used for normalising blood circulation.

In a filing to the Bombay Stock Exchange, Strides Arcolab said it has received Abbreviated New Drug Application (ANDA) approval for two drugs - Dexamethasone Injection and Dexamethasone Sodium Phosphate - from US Food and Drug Administration (US FDA).

The products are licensed to Akorn-Strides, a joint venture between Nasdaq-listed Akorn Inc and Strides Arcolab, the filing said.

"Akorn-Strides partnership has now received 11 ANDA approvals of the 18 filed till date and commercialisation in case of some of these products has already commenced in third quarter of 2008," Strides Arcolab CEO (International Operations) Ravi Seth said.

The two drugs would be used to treat fluid retention and swelling in the brain, normalise blood circulation due to surgical or accidental trauma and also in the treatment of inflammatory disorders like asthma and arthritis.

Shares of Strides were trading at Rs 199, up 0.58 per cent in the morning trade on the BSE.