Strides Pharma Science has taken a significant step forward by securing shareholder approval to establish OneSource, a specialty Contract Development and Manufacturing Organization (CDMO). This strategic move aligns with the company’s focus on expanding its portfolio and addressing growing demands in the healthcare industry. The approval marks a key milestone for Strides as it works to diversify its capabilities and unlock value for its stakeholders.
The Formation of OneSource
OneSource is designed to integrate various critical operations from Strides Pharma and its affiliate companies. These include the Oral Technologies business from Strides, the Sterile Injectables segment from SteriScience, and high-end biologics and drug-device combination products from OneSource’s predecessor, Stelis. By combining these specialties, Strides aims to create a comprehensive CDMO that will address the needs of a rapidly evolving pharmaceutical landscape.
First announced in September 2023, OneSource has since garnered approvals from key regulatory bodies, including the stock exchanges, with shareholder backing following in September 2024. The final step in this process involves obtaining approval from the National Company Law Tribunal (NCLT), after which OneSource will seek listing approvals on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
A Strategic Move Towards Future Growth
The creation of OneSource represents a broader trend in the pharmaceutical industry, where companies are increasingly focusing on specialized CDMO services. By catering to sectors such as biologics, complex injectables, and oral technologies, Strides aims to position itself as a leader in these high-growth areas.
In addition to expanding its service offerings, Strides anticipates that the formation of OneSource will provide long-term value for its shareholders. The company’s stock has seen a positive trajectory in recent months, reflecting growing investor confidence in its strategic initiatives.
What’s Next for Strides Pharma?
With the groundwork laid for the establishment of OneSource, Strides Pharma’s focus will now shift to obtaining final approvals and listing OneSource on India’s top stock exchanges. The successful listing of OneSource will allow Strides to unlock further value, enhancing its market position in the global CDMO space.
Looking ahead, Strides Pharma will need to continuously innovate and expand its portfolio to stay competitive in the ever-evolving pharmaceutical landscape. However, with strong shareholder backing and a clear growth strategy in place, the company is well-positioned to meet future challenges head-on.
Credit: This article is based on information from Rediff and Finance Saathi.
Summary:
– Strides Pharma secures shareholder approval to establish OneSource, a specialty CDMO.
– OneSource will integrate the oral technologies, sterile injectables, and biologics businesses.
– Final approval from the NCLT is awaited before seeking listing on BSE and NSE.
– Strides aims to leverage OneSource to capitalize on high-growth areas like biologics and injectables.
