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Strides Pharma to spin off biopharma biz, start vaccines with global player

Entity Stelis Biopharma to require up to $100-mn additional funds in 3 years

medicine, drugs, pharma
Premium

The company has hired former HDFC Bank MD Aditya Puri to lead the next phase of growth at Stelis, where he will be chairman of the Board

Samreen Ahmad Bengaluru
In order to continue its focus on core pharma business, Strides Pharma Science will be demerging its biotech business under Stelis Biopharma, said a top company official. The Board will form a Committee of Directors to explore various options of value discovery including listing of the business.

“The biopharma business needs a lot of capital. At Strides, if we continue to put that capital in Stelis, it would be a challenge on our balance sheet. Our core business is growing extremely well particularly in regulated markets such as the US so we would want to continue to focus on where the

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