1. Scrip
  2. >>Business

Strides Exits Australia To ‘Double-Down’ On US Market

 
• By Penelope MacRae

Strides founder Arun Kumar says he’s succeeded in putting the company back on the road to health after it shocked financial markets by swinging to a quarterly loss last year. But as part of the recovery plan, the company is selling its key Australia generic business to “double-down” on the US market.

Australia
STRIDES EXITING AUSTRALIA • Source: Shutterstock

Nine months ago, Strides founder Arun Kumar took over the helm of the company to put it back on track after it reported an unexpected quarterly loss. Now Kumar says he’s largely accomplished “the course correction” he wanted.

But his prescription to restore Strides Pharma Science Ltd to health has involved a major corporate shake-up - Strides is...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Business

Capricor Gets Complete Response For DMD Cell Therapy

 
• By Joseph Haas

Seven weeks before its action date, Capricor got an FDA complete response for cell therapy deramiocel in DMD-related cardiomyopathy. It has a Phase III study nearing readout, though.

Bayer Bags First Global Okay For Hot Flashes Therapy

 
• By Kevin Grogan

Lynkuet will compete with Astellas's Veozah/Veoza

China’s Biotechs Were The Small-Cap Rising Stars In H1 2025

 
• By Andrew McConaghie

The list of small-cap companies with the fastest-rising share prices so far this year is dominated by Chinese companies, underscoring their growing contribution to the global biopharma ecosystem.

In Brief: Soleno To Raise $200m To Boost Vykat XR Launch

 
• By Manas Mishra

Soleno Therapeutics will raise about $200m gross proceeds from an offering of 2.35m of its common stock to fund the commercialization of Vykat XR, which became the first drug for Prader-Willi syndrome to gain US approval on March 26.

More from Scrip

China’s Biotechs Were The Small-Cap Rising Stars In H1 2025

 
• By Andrew McConaghie

The list of small-cap companies with the fastest-rising share prices so far this year is dominated by Chinese companies, underscoring their growing contribution to the global biopharma ecosystem.

In Brief: Soleno To Raise $200m To Boost Vykat XR Launch

 
• By Manas Mishra

Soleno Therapeutics will raise about $200m gross proceeds from an offering of 2.35m of its common stock to fund the commercialization of Vykat XR, which became the first drug for Prader-Willi syndrome to gain US approval on March 26.

Glenmark Chief On IGI’s Landmark Trispecific Deal: Strong Data Excited AbbVie

 
• By Anju Ghangurde

Glenmark’s managing director talks about IGI’s billion dollar-plus deal with AbbVie, ISB-2001’s striking data, the BEAT platform, other "exciting" pipeline assets and the "blood, sweat and tears" to get to this stage.