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

31 Jan 2019

• 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...