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    STAR   INE939A01011

STRIDES PHARMA SCIENCE LIMITED

(STAR)
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Strides and its African subsidiary Universal Corporation partner with Medicines Patent

01/21/2022 | 09:07am EDT

BENGALURU, INDIA - Strides Pharma Science Limited (BSE: 532531, NSE: STAR, Company or Strides), a global pharmaceutical company, announced its partnership with Medicines Patent Pool (MPP) to commercialize molnupiravir in the international markets.

Strides and its subsidiary, Universal Corporation Limited (Kenya), have entered into a voluntary non?exclusive sub?license partnership with MPP covering 105 countries as part of MSD (NYSE: MRK, a trading name of Merck & Co., Inc, Kenilworth, NJ, USA) and MPP's partnership to enable a global reach for molnupiravir. Strides and UCL will manufacture the product at their WHO PQ facilities in India and Nairobi, Kenya. UCL owns and operates one of the two WHO PQ facilities in the Sub?Saharan region.

In December 2021, Strides received Emergency Use Authorization (EUA) from the DCGI to launch molnupiravir 200mg in India (under the brand name StripiravirTM). Besides the 200mg strength, Strides has also developed and manufactured molnupiravir in 400mg, which significantly benefits the patients by reducing the pill burden and ensuring better compliance.

Dr. R Ananthanarayanan, Managing Director & Chief Executive Officer, Strides Pharma Science Limited said, 'We are pleased to partner with MPP for providing global accessibility of the generic molnupiravir both from India and Kenya. While our 200mg strength has been launched in India under our brand Stripiravir, this partnership will enable us to commercialize the 400mg dose along with 200mg dose for global markets, extending considerable patient benefits with higher compliance and better administration. With the challenging covid situation in different parts of the world, Strides group will continue to develop and manufacture high?quality generic products that would benefit the healthcare system and patients.'

Molnupiravir is an orally administered form of a potent ribonucleoside analog that inhibits the replication of SARS?CoV?2, and clinical studies have shown this drug to be active against the most common Covid?19 variants. The drug has been granted approval by the UK's Medicines and Healthcare products Regulatory Agency (MHRA) as a safe and effective medication for patients with mild to moderate cases of COVID?19. The drugs also recently received the USFDA's Emergency Use Authorization. The drug was invented by Emory University (Atlanta, USA) and was developed by Merck & Co., Inc. in collaboration with Ridgeback Biotherapeutics.

About Strides

Strides, listed on the BSE Limited (532531) and National Stock Exchange of India Limited (STAR), is a global pharmaceutical company headquartered in Bengaluru, India. The Company mainly operates in the regulated markets and has an 'in Africa for Africa' strategy and an institutional business to service donor?funded markets. The Company's global manufacturing sites are located in India (Chennai, Puducherry and two locations in Bengaluru), Singapore, Italy (Milan), Kenya (Nairobi), and the United States (New York). The Company focuses on 'difficult to manufacture' products sold in over 100 countries

Contact:

Strides

Badree Komandur

Executive Director & CFO

T: +91 80 6784 0747

Investor

Sandeep Baid

T: +91 80 6784 0791

E: sandeep.baid@strides.com

Strides Pharma Science Limited

CIN: L24230MH1990PLC057062

Corporate Communication

Pallavi Panchmatia

T: +91 80 6784 0193

E: pallavi.panchmatia@strides.com

PR Consultancy

Fortuna PR

K Srinivas Reddy

T: +91 90005 27213

E: srinivas@fortunapr.com

K Priya

T: +91 95354 25418

E: priya@fortunapr.com

(C) 2022 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
LIBERTY ALL-STAR EQUITY FUND 3.70% 6.73 Delayed Quote.-22.55%
MERCK & CO., INC. 0.74% 93 Delayed Quote.20.46%
STRIDES PHARMA SCIENCE LIMITED 2.52% 303.55 Delayed Quote.-33.77%
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Financials
Sales 2022 30 909 M 399 M 399 M
Net income 2022 -4 718 M -60,9 M -60,9 M
Net Debt 2022 - - -
P/E ratio 2022 -6,73x
Yield 2022 1,12%
Capitalization 27 260 M 352 M 352 M
Capi. / Sales 2022 0,88x
Capi. / Sales 2023 0,71x
Nbr of Employees 2 390
Free-Float 66,3%
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Number of Analysts 2
Last Close Price 303,55 INR
Average target price 463,00 INR
Spread / Average Target 52,5%
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Managers and Directors
Arun N. Kumar Executive Chairman & Chief Executive Officer
Badree Komandur Group CFO, Finance Director & Executive Director
Anjani Kumar Chief Information Officer
Raviraj Pillai Chief Scientific Officer
Christoph Funke Chief Operating Officer