Ranitidine Blow Sees Indian Firms Take Different Paths
Solara To Reassign Capacities, Strides Considers Relaunch
A double blow to ranitidine medicines - suspension in the EU and a withdrawal request in the US - has caused Indian API and formulation manufacturers to recalibrate their strategies. Amid uncertainty over future prospects for the gastrointestinal drug, Strides is considering a relaunch in the US while Solara is reassigning part of its capacity to manufacture other APIs.
You may also be interested in...
Strides will consider making RDIF’s Sputnik Light vaccine after filling orders for Sputnik V, which it expects to launch in October. The COVID-19 portfolio is being expanded and the Indian company is set to make a Para IV filing for a diabetes product in December, CEO R Ananthanarayanan tells Scrip.
Appointing executives from Endo in key positions, Strides' CEO has set up a team to deliver growth, though the impact of ranitidine withdrawal and COVID-19 will defer a revenue target of $800m. Meanwhile, Stelis Biopharma signals a shift in focus from biologics development to CDMO opportunities and is poised for a stock exchange listing.
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.