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Strides Shasun will launch Ranitidine Tablets in the US markets. Ranitidine is used to treat peptic ulcers of the stomach, intestines and gastroesophageal reflux and heartburn related to indigestion.
A company spokesperson said that new launch will further strengthen Ranitidine franchise. This is the first product approval from Strides' 50:50 joint venture with Vivimed Labs. The product will be backward integrated and will be manufactured at the oral dosage facility in Chennai. Strides will have exclusive marketing rights for the product in the US.
The company has 82 cumulative ANDA filings with USFDA (including it’s joint venture with Vivimed) of which 50 ANDAs have been approved as of date and 32 are pending approval, according to a company statement. According to IRI data, the US Over The Counter (OTC) market for Ranitidine Tablets, which is the generic form of the popular brand Zantac, is approximately $200 million.
Shares of Strides Shasun ended 2.72 per cent higher at Rs 708.65 apiece on the BSE.
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