Strides receives USFDA approval for Lidocaine Ointment
Deepthi | Myequity news | Date : 12-12-2018 19:30:00 IST
Strides Pharma Global Pte. Limited, Singapore, has received approval for Lidocaine Ointment USP 5% from the United States Food & Drug Administration (US FDA). Lidocaine Ointment is a generic version of Xylocaine® Ointment of AstraZeneca Pharmaceuticals LP.
Lidocaine Ointment contains a local anesthetic agent which is administered topically to numb and relieve pain from minor burns, skin abrasions, and other painful conditions affecting mucous membranes. Lidocaine Ointment is also used to numb the skin before certain medical procedures.
According to IQVIA MAT data, the US market for Lidocaine Ointment USP 5% is approximately US$ 50 Mn. The product will be marketed by Strides Pharma Inc. in the US Market and will be launched immediately.
Strides is global pharmaceutical Company headquartered in Bangalore. The Company has two business verticals, viz., Regulated Markets and Emerging Markets. The Company has a global manufacturing footprint with 7 manufacturing facilities spread across three continents including 5 facilities for Regulated Markets and 2 facilities for the Emerging Markets. The Company has strong R&D infrastructure in India with global filing capabilities and a strong commercial footprint across 100 countries.