The company made this announcement after trading hours on Friday, 23 May 2008.

Meanwhile, the BSE Sensex was down 265.45 points, or 1.59%, to 16,384.19, on negative cues from global markets. Asian stocks fell on Monday, 26 May 2008, as investors feared rising inflation and sluggish US economic growth would seriously dent consumer demand in the region's biggest export market.

On BSE, 1,617 shares were traded in the counter. The scrip had an average daily volume of 62,467 shares in the past one quarter.

The stock hit a high of Rs 172 and a low of Rs 167 so far during the day. The stock had a 52-week high of Rs 372 on 5 June 2007 and the stock hit a 52-week low of Rs 120 on 22 January 2008.

The small-cap scrip had underperformed the market over the past one month till 23 May 2008, declining 3.72% compared to the Sensex’s decline of 0.43%. It had outperformed the market in the past one quarter, gaining 8.31% compared to Sensex’s decline of 4.03%.

The company’s current equity is Rs 39 crore. Face value per share is Rs 10.

The current price of Rs 167 discounts its Q1 March 2008 annualised EPS of Rs 11.25, by a PE multiple of 16.89.

On 14 May 2008, Strides Arcolab received an abbreviated new drug application approval for Flumazenil injection USP 0.1 milligram/milliliter multiple dose vial.

In March 2008, Strides Arcolab received approval from US Food and Drug Administration (USFDA) for its third abbreviated new drug application for fosphenytoin injection.

Strides Arcolab reported a net loss of Rs 16.05 crore in Q1 March 2008 as compared to net profit of Rs 7.76 crore in Q1 March 2007. Net sales rose 12.8% to Rs 119.69 crore in Q1 March 2008 over Q1 March 2007.

The company manufactures ethical pharmaceutical products, over the counter (OTC) products and nutraceuticals. It performs its activities through two segments, pharma and contract research and manufacturing (CRAM).