CEO Sets Strides For Growth With Endo Execs
Stelis Signals Listing, Focus Shift
Appointing executives from Endo in key positions, Strides' CEO has set up a team to deliver growth, though the impact of ranitidine withdrawal and COVID-19 will defer a revenue target of $800m. Meanwhile, Stelis Biopharma signals a shift in focus from biologics development to CDMO opportunities and is poised for a stock exchange listing.
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Strides says its Stelis biopharmaceuticals unit is now well-placed to pursue key growth initiatives after completing Series B and Series C funding rounds worth $195m that value the business at around $350m overall.
In the month ahead, a key ANDA approval could come for Viatris, while additional competition to Gilead Sciences’ Truvada for PrEP is on the way in the US following Teva and Amneal’s launches.
Moderna is speculated to be in talks with Indian firms, including Wockhardt and a Tata group company, for manufacturing and/or marketing its COVID-19 vaccine. A deal in India could help the company meet its obligation to supply COVAX but Moderna is likely to choose its partner carefully.