Public Market

Other Deals - Listed Firms

Strides Pharma to spin off CDMO assets to form separate unit ‘OneSource'

Economic Times  

Publicly listed Strides Pharma will demerge its contract development and manufacturing services (CDMO) assets into associate company Stelis Biopharma to form an independent specialty pharma company spanning biologics, complex injectables and soft gelatin capsules. The new company will be called OneSource. The new firm is expected to be listed in the next 12-15 months. Shareholders of Strides Pharma will receive one share of OneSource for every two shares they hold, giving them a 44% stake in the new company. The demerger will reduce Strides Pharma's debt by USD 35 million.