Strides Says Forsteo Biosimilar ‘Significant Product’, Seeks New Minority Investor In Stelis
Cuts Stake In Kenyan Venture To 49%
Executive Summary
Strides sees Kauliv, a biosimilar to Eli Lilly’s Forsteo, as a ‘significant’ but ‘not a massive product’ as it prepares to register it in multiple countries post a positive opinion from EMA. Meanwhile, more clarity on fund raising for Stelis is expected by March 2023 even as the regulatory timeline for a COVID-19 vaccine from Akston is extended by 2-3 months
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Strides Sees $300m Peak Revenues From CDMO GLP-1 Partners, Sells Singapore Unit At Loss
Strides expects to meet an earlier forecast $250m in FY24 US revenues via new product launches and sees peak revenues of $300m from CDMO partners for GLP-1 products. Meanwhile, it has sold a deactivated Singapore facility at a net loss, ending up with an overall loss of $18m in the fiscal second quarter.
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