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Strides Pharma Science Limited plans to pursue portfolio maximisation strategy across the regulated markets to unlock value. It is also exploring to develop a wide range of products across multiple therapeutics segments.
“Further to the Stelis demerger, Strides will keep open the option of adding injectables to its portfolio to complement its oral solid and topicals business as part of the portfolio maximisation strategy and will retain 100 per cent of the economics for the business,” the company’s spokesperson told BusinessLine.
“Strides will also explore working with contract development and manufacturing organisation (CDMO) players like Stelis and others for contract manufacturing of its injectables portfolio and continue to commit its resources to scale-up the fast-growing B2C business led by regulated markets for growth backed by superior cash generation and a strong balance sheet,” he added.
R Ananthanarayanan, Managing Director & CEO, Strides Pharma Sciences, had said, “The company’s portfolio maximisation strategy is yielding the desired results and we continue to invest in R&D to expand our product offering across regulated markets.”
Listing plan
Strides is also planning to list its demerged entity - Stelis Biopharma on the exchanges. Recently, the board of directors of Strides approved in principle the demerger of its biotech business under Stelis Biopharma. The company also roped in Aditya Puri to the board of Stelis Biopharma.
“The demerger is expected to unlock significant value for Strides shareholders. Strides’ Board will form a committee of directors to explore various options of value discovery including listing of the business on a standalone basis. The committee will recommend the proposals to the audit committee, committee of independent directors and board including the scheme, swap ratio and way forward,” spokesperson explained.
The transaction is subject to approval from shareholders, meeting customary closing conditions and is expected to achieve closure in over 12 months.
Spokesperson further said, “Strides is also considering retaining a minority treasury investment in Stelis, thereby enabling it to participate in the growth phase and to recoup its capital, with the balance of its holding in Stelis being distributed to its shareholders in proportion to their holding."