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Strides Hits Pause On Investments In Stelis’s Injectables

Strong Show In Q1

 
• By Vibha Ravi

Strides has paused further investments in the sterile injectables business under Stelis, citing pandemic-related uncertainty and loss of revenue from ranitidine withdrawal in the US. A prior investment commitment of $40m in Stelis will, however, be fulfilled. Meanwhile, Strides reported a strong first quarter led by non-US markets.

Pause
Strides Suspended Additional Investments In Stelis's Injectables • Source: Shutterstock

India's Strides Pharma Science Limited has decided to pause further investments in the long-gestation sterile injectables business under Stelis BioPharma Pvt. Ltd. while retaining its commitment to invest up to $40m in Stelis itself.

In December 2019, Strides had set a sales target of $200-400m from the injectables business in two to four years,...

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