Strides Arcolab Ltd. announced that its Canadian subsidiary had received approval from Health Canada for Tobramycin Injection USP 40 mg/ mL, liquid dosage form.
Tobramycin is in a group of antibiotics called aminoglycosides used to treat bacterial infections of the skin, heart, stomach, brain and spinal cord, respiratory system, and urinary tract. It is also used in the treatment of cystic fibrosis. Tobramycin injection is sometimes used together with other antibiotics.
The company said the approval was granted under the expedited review process due to the severe drug shortage in Canada. In March 2012, Canadian Health Ministry had indicated that Health Canada would approve suppliers within a month to ease the drug shortage in Canada.
The product will be commercialized in Q2FY12 directly by Strides Canadian subsidiary, the company said. The market value of the product is around $4.2 million,.
At the BSE, Strides Arcolab closed Monday's trading at Rs.599.05, after touching a 52-week high of Rs.628.50 in the early trading session.
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by RTT Staff Writer
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