Strides Pharma Global, Singapore (SPG), a wholly owned step-down subsidiary of Strides Pharma Science, is acquiring balance stake in Strides Pharma International AG (formerly Fairmed Healthcare AG) (Strides Switzerland), a step-down subsidiary of the Company for an aggregate consideration of ~CHF 1.01 million. SPG currently owns 70% stake in Strides Switzerland. As part of business consolidation and to achieve operational synergy, SPG is acquiring the balance 30% stake in Strides Switzerland. Strides Switzerland is strategically positioned to serve key markets in Europe. The acquisition marks a significant milestone in Strides` expansion efforts, further strengthening its position in the region. The business is led by  Oren Weininger, who is the longstanding CEO of Strides Switzerland. Oren shall continue to lead the business in this region. His wealth of experience and expertise will drive company`s continued success and growth in the European market.Powered by Capital Market - Live News

Net profit of Strides Pharma Science reported to Rs 93.23 crore in the quarter ended September 2024 as against net loss of Rs 131.34 crore during the previous quarter ended September 2023. Sales rose 20.18% to Rs 1201.11 crore in the quarter ended September 2024 as against Rs 999.43 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales1201.11999.43 20 OPM %18.5711.09 - PBDT169.2668.14 148 PBT118.738.03 1379 NP93.23-131.34 LP Powered by Capital Market - Live News

Strides Pharma Science will hold a meeting of the Board of Directors of the Company on 24 October 2024.Powered by Capital Market - Live News

Strides Pharma Science (Strides) today announced that its associate company, OneSource Specialty Pharma (formerly known as Stelis Biopharma), Group`s Specialty Pharma CDMO, has received confirmed commitments for fundraising of Rs 801 crore (~USD 95 mn) from marquee domestic and foreign institutional investors and family offices, in the pre-listing round. The share subscription agreements are being executed at a pre-money equity value of USD 1.65 bn, delivering to Strides` shareholders an embedded value of Rs 663 per share of Strides` holding in OneSource representing an ~82% premium over the previous embedded value of Rs 364 per share as per the Scheme of Arrangement announced earlier in September`23. The strong interest from leading investors reflects growing confidence in our capabilities and the immense potential of the CDMO sector emerging out of India. This fundraise is in line with the Scheme of Arrangement announced in September`23. Arun Kumar, Founder of Strides Group, and Neeraj Sharma, CEO of OneSource in a statement said, We are delighted to have received an overwhelming response to the pre-listing fundraise from a marquee set of investors on our cap table prior to our listing. Their strong support is a testament to the confidence they have in our vision and strategic direction. This fundraise will enable us to accelerate our growth plans, right-size our debt book, and commit significant new capex for a strong order book across our 3 platforms.�Background: On 25 September 2023, Strides announced the creation of OneSource, India`s first specialty pharma pure-play CDMO player by integrating Stelis` Biologics CDMO, SteriScience`s Complex Injectables, and Strides` Soft Gelatine businesses in a single entity by way of Scheme of Arrangement.Powered by Capital Market - Live News

Strides Pharma Science announced that its step-down wholly owned subsidiary, Strides Pharma Global, Singapore, has received approval for Fluoxetine Tabs 60 mg, from the United States Food & Drug Administration (USFDA). The product is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Fluoxetine Tablets, 60 mg, of TWi Pharmaceuticals, Inc. With the approval of the Fluoxetine Tabs 60 mg strength, the Company is now positioned to offer a complete portfolio of Fluoxetine across Capsules and Tablets in 10 mg, 20 mg, and 60 mg strengths. Fluoxetine Capsules and Tablets have a combined market size of ~US$ 130 Mn as per IMS. The addition of the Fluoxetine Tabs 60 mg will allow for enhanced flexibility in dosing, catering to a broader spectrum of patient needs. The Company plans to launch all three strengths in the near future. The Fluoxetine tablets will be manufactured at the company`s facility in Puducherry.Powered by Capital Market - Live News