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Strides Fights COVID-19-Led Sales Slump With Endo Assets, Sputnik V

New CDMO Alliance Expected

Executive Summary

After a COVID-19-led manufacturing halt at its India facility and a slowdown in US launches hit Strides during the first quarter of FY22, the Indian firm is trying to fight back with an acquisition of assets from Endo and a growth strategy for Stelis Biopharma’s vaccines business, led by Sputnik V.

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Strides Founder Back As MD, Asserts Confidence In US As Company Exits Parts Of Europe

Back as Strides managing director, founder Arun Kumar is confident of reversing a slide in profits via a recalibration strategy that saw the company exit Canada and a few European markets. Meanwhile, eyes are on the fallout of a CRO that serviced Strides apart from Sandoz, Teva and more getting caught in CHMP and FDA’s crosshairs

Strides Sees COVID-19 Pills Not Impacting Vaccine Uptake

Strides’ CEO tells Scrip Merck’s molnupiravir and Pfizer’s Paxlovid are not seen impacting COVID-19 vaccine uptake as boosters and immunization for travel will drive continued demand. The Indian company expects to book Sputnik Light sales from Q4. Meanwhile, US revenue guidance of $225-250m has been pushed back by a year to FY23.

Strides Completes Acquisition Of Endo US Facility And ANDAs

Two months after announcing the deal, Strides Pharma Science has closed its acquisition of a US manufacturing site and basket of ANDAs from Endo, doubling the company’s burgeoning US business and providing much-needed cash to the US-based company.

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