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UPDATE 1-Akorn-Strides gets FDA nod for two generic antibiotics

Wed Dec 31, 2008 9:23am EST

Stocks

   

Dec 31 (Reuters) - Akorn-Strides LLC, a joint venture between Akorn Inc (AKRX.O) and India's Strides Arcolab Ltd (STAR.BO), said it received U.S. regulatory approval for two generic antibiotics.

Shares of Akorn were up 49 percent at $2.90 in trading before the bell.

Akorn-Strides received U.S. Food and Drug Administration's approval for Sterile Vancomycin HCl 500 mg/vial, 1 g/vial and Sterile Vancomycin HCl 5 g/vial Pharmacy Bulk Package, it said.

According to IMS data, the annual market size for Sterile Vancomycin HCl is about $150 million, it said. Akorn-Strides expects to launch the products in the first half of 2009.

Shares of Strides Arcolab closed at 89.45 rupees in Mumbai Wednesday. (Reporting by Anuradha Ramanathan in Bangalore; Editing by Vinu Pilakkott)



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