Strides Pharma launches Icosapent ethyl acid soft gel capsules
The said product has been in-licensed from Strides and will be commercialized by Amneal starting in the fourth quarter of 2023. It is being launched in the US in partnership with Amneal Pharmaceuticals, a fully integrated global pharmaceuticals company.
Aditya Kumar, vice president business development, Strides Pharma Science, said, ?We are thrilled to announce our partnership with Amneal Pharmaceuticals for Icosapent ethyl acid soft gelatin capsules. This partnership is a testament to our commitment to excellence and the pursuit of cutting edge solutions. By combining our resources, expertise, and shared passion, we are confident that we will achieve remarkable outcomes that benefit not only our organizations but also our valued customer and stakeholders.
Andy Boyer, executive vice president, Amneal Generics, said, ?We are on-track to launch over 40 new products in 2023. The launch of Icosapent ethyl is another essential medicine that we?ve added to our portfolio.?
Bengaluru-based Strides Pharma Science is a global pharmaceutical company. The company mainly operates in the regulated markets and has an in Africa for Africa strategy and an institutional business to service donor-funded markets. The company's global manufacturing sites are located in India (Chennai, Puducherry, and two locations in Bengaluru), Singapore, Italy (Milan), Kenya (Nairobi), and the United States (New York).
The company reported a consolidated net loss (from continuing operations) of Rs 149.46 crore in Q2 FY24 as against a net profit of Rs 0.33 crore posted in Q2 FY23. The company reported quarterly sales of Rs 1,026.4 crore in Q2 FY24, registering a growth of 21% from Rs 848.20 crore in Q2 FY23.
The scrip rallied 3.30% to Rs 502.65 on Friday, 1 December 2023.
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