Strides Says Forsteo Biosimilar ‘Significant Product’, Seeks New Minority Investor In Stelis
Cuts Stake In Kenyan Venture To 49%
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’ biopharma arm Stelis Biopharma has moved closer to approval in the EU and likely the US too for a biosimilar to Eli Lilly’s Forteo in FY23, following GMP certification for its manufacturing units. Meanwhile, merchant bankers have been appointed to evaluate strategic options to raise cash for Stelis.
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
In light of the Russia-Ukraine conflict, Scrip looks at data to gauge if manufacturing partners for COVID-19 vaccine Sputnik V or Light, in India, China and Korea could be left holding unsold inventory earmarked for exports