Strides Arcolab, a pharmaceutical company manufacturing IP-led niche products, today announced it has received approval from the United States Foods & Drugs Administration (USFDA) for Buspirone Hydrochloride tablets UPS 5 mg, 10 mg and 30 mg.
According to IMS data as on September 2013, the US market for generic Buspirone tablets is approximately USD 65 million.
The product will be manufactured at the company's Oral dosage facility at Bangalore and marketed directly by Strides in the US market.
Shares of the company declined Rs 11.15, or 1.66%, to trade at Rs 658.85. The total volume of shares traded was 75,542 at the BSE (2.30 p.m., Tuesday).