Strides' US Revenues Soar, Recovery Strategy ‘Executing To Plan’
Executive SummaryStrides Pharma “very confident” about future after Indian generic company’s fourth-quarter US revenues rocketed 181% and EBITDA margins beat market expectations.
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Indian firm Strides announces its entry into China through a joint venture with one of the country’s leading pharmaceutical firms, as first-quarter EBITDA soars 155%.
Even after the US FDA warns Strides on uncontrolled records destruction and poor OOS investigations at its Puducherry plant, firm remains confident in its US market growth projections.
While planning to exit its Australian business, Strides Pharma Science has bolstered its presence in North America by gaining full control of its joint venture with Vivimed Labs, along with acquiring Vensun Pharmaceuticals in the US. The Indian firm has also bought a majority stake in Canada’s Pharmapar.