Strides Plans Injectables Re-entry As Mylan Non-Compete Nears End
Indian firm Strides to invest up to $40m in acquired Stelis for re-entry into generic injectables and multiple biosimilar APIs as it looks to build its business.
You may also be interested in...
Strides is expanding its presence in synthetic injectables via a new company, SteriScience, while keeping its biologics injectables business under Stelis. A head start with existing IP assets and those from a new joint venture with Brooks Labs will enable the fledgling firm to file its first ANDA in fiscal 2021, with break-even seen in two years.
Strides has paused further investments in the sterile injectables business under Stelis, citing pandemic-related uncertainty and loss of revenue from ranitidine withdrawal in the US. A prior investment commitment of $40m in Stelis will, however, be fulfilled. Meanwhile, Strides reported a strong first quarter led by non-US markets.
A biopharma conference in Mumbai hears how the US biosimilars landscape could potentially change over the long term when deep price cuts set in and payers have a greater say in matters. Might big pharma consider pulling out?