Concord Biotech gains USFDA approval for teriflunomide tablets

Concord Biotech (BSE: CONCORDBIO) announced today that it has secured final approval from the United States Food and Drug Administration (USFDA) to market its Teriflunomide tablets in strengths of 7 mg and 14 mg. These tablets are used in the treatment of patients with relapsing forms of multiple sclerosis. According to Concord Biotech, this approval strengthens the company's ability to successfully develop and commercialize differentiated products for the U.S. market. Citing IQVIA data, the company states that the US market size for Teriflunomide tablets is approximately USD 402 million, while the global market size is approximately USD 908 million. Concord Biotech believes this approval creates significant opportunities for expansion in the US and the global market.