Strides Shasun's wholly owned subsidiary Strides Pharma Global has received approval from the United States Food & Drug Administration (USFDA) for Acetazolamide Tablets USP, 125 mg and 250 mg., a generic version of Diamox Tablets.

The product, to be launched immediately, will be marketed by Strides Pharma Inc. in the US Market. Acetazolamide Tablets is used to prevent and reduce the symptoms of altitude sickness. Acetazolamide is also used with other medications to treat a certain type of eye problem (open-angle glaucoma).

According to IMS data, the US market for Acetazolamide Tablets is approximately USD 53 million. The approval, which was received in a short span of 11 months, demonstrates company's strategy of building a niche portfolio in regulated markets, having limited competition.

Shares of the company gained Rs 2.75, or 0.33%, to trade at Rs 829.15. The total volume of shares traded was 26,474 at the BSE (10.27 a.m., Wednesday).