Strides to acquire 18 ANDAs from Pharmaceutics International

Indian drugmaker Strides Pharma (BSE: 532531) has entered into a definitive asset transfer and licensing agreement with Pharmaceutics International Inc (Pii) to acquire 18 Abbreviated New Drug Applications (ANDAs) for the US market.

Strides’ shares gained as much as 3.7% to 510 rupees in early trading last Friday following the announcement.

With access to these products, Strides will significantly expand its niche offerings on its front end, which has grown multi‐folds to attain a quarterly revenue size of $66 million, the company noted. Of the 18 products successfully developed by Pii with its Pharmaceutics Know How, 11 are currently approved by the US Food and Drug Administration, while the remaining seven products are submitted and are under different stages of review with the Agency.