Strides Pushes Back US Expectations

Sees COVID-19 Pills Not Impacting Vaccine Uptake; Expects Sputnik Revenues From Q4

Strides has pushed back US revenue guidance of $225m-$250m by a year to FY23 amid price erosion and substantial competition in the market. Meanwhile, the firm’s CEO says 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.

Oral Therapy Or Pills Against COVID-19
Oral Therapies For COVID-19 Not Seen Reducing Vaccine Demand • Source: Alamy

Strides Pharma Science Limited has moved back its timeline for achieving $225-250m in revenues from the US by a year to FY23, following significant price erosion amid intensified competition in the US during the second quarter of fiscal 2022, which began on 1 April.

In response, Strides is shifting its focus away from niche products in the US and will leverage the portfolio acquired...

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