Strides Exits Australia To ‘Double-Down’ On US Market
Strides founder Arun Kumar says he’s succeeded in putting the company back on the road to health after it shocked financial markets by swinging to a quarterly loss last year. But as part of the recovery plan, the company is selling its key Australia generic business to “double-down” on the US market.
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Strides Pharma is “very confident” about future after the Indian company’s fourth-quarter US revenues rocketed by 181% and EBITDA margins beat market expectations.
Strides Pharma “very confident” about future after Indian generic company’s fourth-quarter US revenues rocketed 181% and EBITDA margins beat market expectations.
Earlier this year, Strides Pharma Science outlined plans to adopt a “recalibrated strategy” in the US, with a focus on launches through its own commercial front-end rather than through partners. As well as pledging to take up a “front-end bias” in the country, Strides had also said it would exit its partnership business and eschew new “partnership contracts” (Generics bulletin, 25 May 2018, page 5).