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Strides Founder Back As MD, Asserts Confidence In US As Company Exits Parts Of Europe

Exits Canada Too In ‘Strategy Of Scale’

Executive Summary

Back as Strides managing director, founder Arun Kumar is confident of reversing a slide in profits via a recalibration strategy that saw the company exit Canada and a few European markets. Meanwhile, eyes are on the fallout of a CRO that serviced Strides apart from Sandoz, Teva and more getting caught in CHMP and FDA’s crosshairs

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Strides Sees $300m Peak Revenues From CDMO GLP-1 Partners, Sells Singapore Unit At Loss

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.

Strides Sees $300m Peak Revenues From CDMO GLP-1 Partners, Sells Singapore Unit At Loss

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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Strides sees Kauliv, a biosimilar to Eli Lilly’s Forsteo, as a ‘significant’ but ‘not a massive product’ as it prepares to register it in multiple countries post a positive opinion from EMA. Meanwhile, more clarity on fund raising for Stelis is expected by March 2023 even as the regulatory timeline for a COVID-19 vaccine from Akston is extended by 2-3 months

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