Strides Hits Pause On Stelis Injectables Investments
Makes A Strong Showing In Q1
Executive Summary
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.
You may also be interested in...
CEO Sets Strides For Growth With Endo Execs
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.
Generics Industry Counts Cost Of Stormy Second Quarter
As the global generics industry had predicted, the unexpected growth seen in the first quarter of 2020 due to forward buying caused by COVID-19 levelled off in the second quarter. However, a few companies managed to report a “mixed” second quarter or a positive first half for 2020, even after experiencing challenges, such as operational interruptions, posed by the pandemic.
Mylan’s Biosimilars Close In On $1bn Milestone
Mylan says it is closing in on $1bn in cumulative sales of its biosimilars, also disclosing its annual turnover figure from biosimilars as it reported its second-quarter results.