19 Sep 2013, BioSpectrum Bureau , BioSpectrum
Singapore: India's leading drug firm Strides Arcolab, with an agenda to foray into the semi-solid market in the US, has announced that it has received the US drug regulator's approval for its Milan-based facility of its Italian subsidiary Beltapharm.
The company said in a press statement that the facility in Milan will manufacture liquids, semi-solids, ointments and creams. "This approval provides further impetus to our pharma business and marks our foray into the attractive but complex semi-solid market in the US," said Mr Manish Gupta, CEO of pharma at Strides Arcolab.
This facility has also been approved by the European Union and Australia's Therapeutic Goods Administration (TGA). The company has estimated that its first semi-solid product will be commercialized by the first quarter of the next year. He further added that the product will be marketed by one of the top ten generic companies in the US market.
The company currently has over 12 products at different stages of development and approval and is developing a portfolio of liquids and semi-solids products for the US and the EU markets.