Strides Pushes Back US Expectations
Sees COVID-19 Pills Not Impacting Vaccine Uptake; Expects Sputnik Revenues From Q4
Executive Summary
Strides has pushed back US revenue guidance of $225m-$250m by a year to FY23 amid price erosion and substantial competition in the market. Meanwhile, the firm’s CEO says Merck’s molnupiravir and Pfizer’s Paxlovid are not seen impacting COVID-19 vaccine uptake as boosters and immunization for travel will drive continued demand. The Indian company expects to book Sputnik Light sales from Q4.
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