GLP-1 products, once used for diabetes and now approved to treat obesity, are all the rage with Novo Nordisk A/S and Eli Lilly and Company having made billions just off Wegovy and Mounjaro respectively.
Strides Sees $300m Peak Revenues From CDMO GLP-1 Partners, Sells Singapore Unit At Loss
US Revenue Forecast Likely To Be Met
Strides expects to meet an earlier forecast $250m in FY24 US revenues via new product launches and sees peak revenues of $300m from CDMO partners for GLP-1 products. Meanwhile, it has sold a deactivated Singapore facility at a net loss, ending up with an overall loss of $18m in the fiscal second quarter.
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