Strides Pharma Science Limited (Strides) announced that its step‐down wholly‐owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, has entered into a definitive asset transfer and licensing agreement with Pharmaceutics International, Inc.(Pii) to acquire 18 ANDAs (Abbreviated New Drug Application) for the US market.
With access to these products, Strides will significantly expand its niche offerings on its front end, which has grown multi‐folds to attain a quarterly revenue size of $66 million. Of the 18 products successfully developed by Pii with their Pharmaceutics Know How, 11 are currently approved by USFDA while the remaining seven (7) products are submitted and are under different stages of review with the Agency.
Out of the 11 approved ANDAs, Strides is currently commercializing two (2) ANDAs with product supply from Pii, while the remaining approved ANDAs will be transferred to Strides’ global manufacturing facilities and commercialized over the next 18‐24 months.
Strides, listed on the BSE Limited and National Stock Exchange of India Limited, is a global pharmaceutical company headquartered in Bangalore. The Company mainly operates in the regulated markets and has an “in Africa for Africa” strategy along with an institutional business to service donor‐funded markets.
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