Strides Pharma Global, Singapore (SPG), a wholly owned step-down subsidiary of Strides Pharma Science, is acquiring balance stake in Strides Pharma International AG (formerly Fairmed Healthcare AG) (Strides Switzerland), a step-down subsidiary of the Company for an aggregate consideration of ~CHF 1.01 million. SPG currently owns 70% stake in Strides Switzerland. As part of business consolidation and to achieve operational synergy, SPG is acquiring the balance 30% stake in Strides Switzerland. Strides Switzerland is strategically positioned to serve key markets in Europe. The acquisition marks a significant milestone in Strides' expansion efforts, further strengthening its position in the region. The business is led by  Oren Weininger, who is the longstanding CEO of Strides Switzerland. Oren shall continue to lead the business in this region. His wealth of experience and expertise will drive company's continued success and growth in the European market.Powered by Capital Market - Live

Net profit of Strides Pharma Science reported to Rs 93.23 crore in the quarter ended September 2024 as against net loss of Rs 131.34 crore during the previous quarter ended September 2023. Sales rose 20.18% to Rs 1201.11 crore in the quarter ended September 2024 as against Rs 999.43 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales1201.11999.43 20 OPM %18.5711.09 - PBDT169.2668.14 148 PBT118.738.03 1379 NP93.23-131.34 LP Powered by Capital Market - Live

Revenue from operations stood at Rs 1201.1 crore in the quarter ended September 2024, registering a growth of 20.17% from Rs 999.43 crore posted in the quarter ended September 2023. Profit before exceptional items and tax was at Rs 131.54 crore in Q2 FY25, zoomed 161.61% from Rs 50.28 crore recorded in Q2 FY24. The company reported an exceptional loss of Rs 3.87 crore during the quarter. The firm reported quarterly EBITDA of Rs 235.80 crore in Q2 FY25, registering a growth of 30.92% year on year. EBITDA margin improved to 19.6% in Q2 FY25 as compared to 17.5% recorded in the corresponding quarter previous year. Gross margin grew by 15.6% YoY to Rs 703.20 crore during the quarter. Gross margin reduced by 72bps YoY to 58.5% in the quarter ended September 2024. US revenues at a historic high of $75m in Q2 FY25, grew 26.2% YoY. The company said that The US business poised to achieve the approximately $400million objective by FY27-28, reaffirming FY25 revenue outlook of $285million - $300million. Arun Kumar, founder & executive chairperson, and Badree Komandur, MD & group CEO, 'We continue to deliver on the momentum built over several preceding quarters and delivered another strong quarter. Q2FY25 demonstrated sustained growth across all markets fueled by new product launches. US operations reported highest ever quarterly revenue of $75m in Q2FY25. Strong Y-o-Y improvement in absolute EBITDA and EBITDA margin reflects our continued focus on operational efficiency and profitability.' Strides Pharma Science is engaged in develops and manufactures a wide range of IP-led niche pharmaceutical products. Shares of Strides Pharma Science shed 0.15% to currently trade at Rs 1551.30 on the BSE. Powered by Capital Market - Live

Strides Pharma Science will hold a meeting of the Board of Directors of the Company on 24 October 2024.Powered by Capital Market - Live

The fundraise is being led by HBM Healthcare Investments and associated investors, with the additional participation inter alia from WhiteOak Capital, Param Capital, Motilal Oswal, Enam Holdings and SBI Life Insurance Co. The share subscription agreements are being executed at a pre-money equity value of $1.65 billion, delivering to Strides' shareholders an embedded value of Rs 663 per share of Strides' holding in OneSource representing an around 82% premium over the previous embedded value of Rs 364 per share as per the scheme of arrangement announced earlier in September'23. Earlier on 25th September 2023, the company announced the creation of OneSource, India's first specialty pharma pure-play CDMO player by integrating Stelis' Biologics CDMO, SteriScience's Complex Injectables, and Strides' Soft Gelatine businesses in a single entity by way of Scheme of Arrangement. As part of the Scheme, Strides shareholders are to receive 1 share of OneSource for every 2 shares of Strides. OneSource is in the process of seeking final approval for the Scheme from NCLT, Mumbai Bench, to thereafter achieve the listing of equity shares by March'25, upon receipt of regulatory approvals. The company stated in an exchange filing, Business updates of OneSource and Strides will be part of Q2FY25 earnings reporting scheduled for the later part of October '24. Arun Kumar, founder of Strides Group, and Neeraj Sharma, CEO of OneSource, said, 'We are delighted to have received an overwhelming response to the pre-listing fundraise from a marquee set of investors on our cap table prior to our listing. Their strong support is a testament to the confidence they have in our vision and strategic direction. This fundraise will enable us to accelerate our growth plans, right-size our debt book, and commit significant new capex for a strong order book across our 3 platforms.' Badree Komandur, MD & Group CEO of Strides said, 'We are pleased to have successfully received equity commitments for OneSource, ensuring its future growth. The transaction will unlock around Rs 6,100 crore (approximately $ 725 million) of value for Strides'shareholders. The significant premium that will be achieved from this transaction for Strides' shareholders is a testament to our continued value creation for our stakeholders. Strides Pharma Science is engaged in developing and manufacturing a wide range of IP-led niche Pharmaceutical products. The company reported a consolidated net profit of Rs 70.20 crore in Q1 FY25 as against a net loss of Rs 7.11 crore posted in Q1 FY24. Revenue from operations stood at Rs 1,087.50 crore in the quarter ended June 2024, registering a growth of 16.93% YoY. The counter hit an all-time high at Rs 1,651.15 in intraday today.Powered by Capital Market - Live

Strides Pharma Science (Strides) today announced that its associate company, OneSource Specialty Pharma (formerly known as Stelis Biopharma), Group's Specialty Pharma CDMO, has received confirmed commitments for fundraising of Rs 801 crore (~USD 95 mn) from marquee domestic and foreign institutional investors and family offices, in the pre-listing round. The share subscription agreements are being executed at a pre-money equity value of USD 1.65 bn, delivering to Strides' shareholders an embedded value of Rs 663 per share of Strides' holding in OneSource representing an ~82% premium over the previous embedded value of Rs 364 per share as per the Scheme of Arrangement announced earlier in September'23. The strong interest from leading investors reflects growing confidence in our capabilities and the immense potential of the CDMO sector emerging out of India. This fundraise is in line with the Scheme of Arrangement announced in September'23. Arun Kumar, Founder of Strides Group, and Neeraj Sharma, CEO of OneSource in a statement said, We are delighted to have received an overwhelming response to the pre-listing fundraise from a marquee set of investors on our cap table prior to our listing. Their strong support is a testament to the confidence they have in our vision and strategic direction. This fundraise will enable us to accelerate our growth plans, right-size our debt book, and commit significant new capex for a strong order book across our 3 platforms.' Background: On 25 September 2023, Strides announced the creation of OneSource, India's first specialty pharma pure-play CDMO player by integrating Stelis' Biologics CDMO, SteriScience's Complex Injectables, and Strides' Soft Gelatine businesses in a single entity by way of Scheme of Arrangement.Powered by Capital Market - Live

The product is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Fluoxetine Tablets of TWi Pharmaceuticals, Inc. Fluoxetine is an antidepressant of the Selective Serotonin Reuptake Inhibitor (SSRI) class. It is used for the treatment of Major Depressive Disorder (MDD), Obsessive'Compulsive Disorder (OCD), Bulimia Nervosa, Panic Disorder, with or without Agoraphobia. With the approval of the Fluoxetine Tablets, the company is now positioned to offer a complete portfolio of Fluoxetine across capsules and tablets in 10 mg, 20 mg and 60 mg strengths. Fluoxetine capsules and tablets have a combined market size of around $130 millions as per (Intercontinental Marketing Services Health Inc) IMS. The addition of the Fluoxetine Tablets will allow for enhanced flexibility in dosing, catering to a broader spectrum of patient needs. The company plans to launch all three strengths in the near future. The Fluoxetine tablets will be manufactured at the company's facility in Puducherry. Strides Pharma Science is engaged in develops and manufactures a wide range of IP-led niche Pharmaceutical products. The company reported a consolidated net profit of Rs 70.20 crore in Q1 FY25 as against a net loss of Rs 7.11 crore posted in Q1 FY24. Revenue from operations stood at Rs 1,087.50 crore in the quarter ended June 2024, registering a growth of 16.93% YoY. The counter hit an all-time high of Rs 1,430.80 in intraday today.Powered by Capital Market - Live

Strides Pharma Science announced that its step-down wholly owned subsidiary, Strides Pharma Global, Singapore, has received approval for Fluoxetine Tabs 60 mg, from the United States Food & Drug Administration (USFDA). The product is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Fluoxetine Tablets, 60 mg, of TWi Pharmaceuticals, Inc. With the approval of the Fluoxetine Tabs 60 mg strength, the Company is now positioned to offer a complete portfolio of Fluoxetine across Capsules and Tablets in 10 mg, 20 mg, and 60 mg strengths. Fluoxetine Capsules and Tablets have a combined market size of ~US$ 130 Mn as per IMS. The addition of the Fluoxetine Tabs 60 mg will allow for enhanced flexibility in dosing, catering to a broader spectrum of patient needs. The Company plans to launch all three strengths in the near future. The Fluoxetine tablets will be manufactured at the company's facility in Puducherry.Powered by Capital Market - Live

Strides Pharma Science (Strides) today announced that it has secured the approval of its equity shareholders and secured creditors with overwhelming majority , along with those of OneSource Specialty Pharma and SteriScience Specialties, in meetings convened under the guidance of the Hon'ble National Company Law Tribunal (NCLT). All the secured creditors who voted on the Scheme for the three Companies in their respective meetings, were in favour of the Scheme. This is a critical step in the creation of OneSource and the support from Shareholders and Secured Creditors underscores the confidence in the Company's strategic initiative to create OneSource - India's first specialty pharma Contract Development and Manufacturing Organization (CDMO) covering advanced sectors like biologics, complex injectables, and oral technologies, including soft-gelatin capsules. In September 2023, Strides announced its strategic initiative to create OneSource as an Independent Specialty Pharma CDMO by integrating the Oral Technologies (Soft Gelatin Capsules) business from Strides, Sterile Injectables business of SteriScience Specialty and the Biologics and high-end drug devices combination business of OneSource (erstwhile Stelis). Having already received Stock Exchange approvals in May 2024, this latest approval from Equity Shareholders and Secured Creditors marks a significant milestone. The Company will now seek final approval from the Hon'ble NCLT, Mumbai Bench, and upon its receipt, OneSource will proceed to seek listing approvals from the BSE and NSE.Powered by Capital Market - Live

Strides Pharma Science announced that the Annual General Meeting (AGM) of the company will be held on 25 September 2024.Powered by Capital Market - Live