Strides’ Founder Considering Stake Sale In UK CDMO?
More M&A may be in store in the contract development and manufacturing space, with the founder of India’s Strides group apparently open to divesting his holding in the UK-based Sterling Pharma Solutions, at least going by what some deal street insiders say.
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Piramal Pharma Solutions CEO Vivek Sharma discusses a range of issues shaping the buzzing contract development and manufacturing segment in an interview with Scrip. Heightened consolidation and attractive prospects in the area of antibody drug conjugates, where over 600 clinical trials are being conducted worldwide, are some of the trends to watch out for.
As the Indian business conglomerate Piramal considers the sale of its contract development and manufacturing organization (CDMO), some experts say that more CDMO players could potentially join the sale line up in a fragmented sector but one that’s in demand.
Strides Shasun founder Arun Kumar has moved back into the driver’s seat to focus on “course correction” after the Indian drug maker racked up an unexpected quarterly loss that triggered a massive share selloff.