Strides Pharma Science shares were outperforming the Sensex.Strides Pharma Science shares surged as much as 5 per cent to hit an intraday high of Rs 431.15 after it got approval from US drug regulator - US Food and Drug Administration (USFDA) - for Butalbital, Acetaminophen, Caffeine, and Codeine Phosphate Capsules.

"Strides Pharma Science's wholly owned subsidiary Strides Pharma Global Pte.

Singapore, has received approval for Butalbital, Acetaminophen, Caffeine, and Codeine Phosphate Capsules, 50 mg/325 mg/40 mg/30 mg from the United States Food - Drug Administration (USFDA)," Strides Pharma Science said in a stock exchange filing.The product is a generic version of Fioricet with Codeine Capsules, 50 mg/325 mg/40 mg/30 mg, of Teva Branded Pharmaceutical Product R-D, Inc."According to IQVIA MAT May 2020 data, the US market for Butalbital, Acetaminophen, Caffeine, and Codeine Phosphate Capsules, 50 mg/325 mg/40 mg/30 mg is approximately $10 million.

The product will be marketed by Strides Pharma in the US market," Strides Pharma added."Butalbital, Acetaminophen, Caffeine, and Codeine Phosphate Capsules is indicated for the relief of the symptom complex of tension (or muscle contraction) headache," Strides Pharma said.As of 11:52 am, Strides Pharma Science shares traded 2.66 per cent higher at Rs 422.30, outperforming the Sensex which was up 0.67 per cent.