Strides Targets $200m-$400m From Injectables
Biosimilars In Development Include Insulin Glargine And Lispro
Strides has set a sales target of $200m-$400m for Stelis’ generic injectables business in two to four years as part of its plan to reach $800m in total revenues in four years. Meanwhile, Stelis’ Rh-teriparatide for osteoporosis and sodium hyaluronate for osteoarthritis await Phase III incremental studies in the US.
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Strides has paused further investments in the sterile injectables business under Stelis, citing pandemic-related uncertainty and loss of revenue from ranitidine withdrawal in the US. A prior investment commitment of $40m in Stelis will, however, be fulfilled. Meanwhile, Strides reported a strong first quarter led by non-US markets.
Arun Kumar is stepping down as chief executive of Strides Pharma to focus on overall corporate strategy and the company’s return to injectables. He will be replaced by former Cipla chief operating officer R Ananthanarayanan.
Lannett’s Phase I trial for biosimilar insulin glargine has met “all primary endpoints,” the company has announced. The rival to Sanofi’s Lantus is being developed by Lannett with partner HEC through a deal for which financial details have just been revealed.