Strides Pharma to set up 800-mn capacity vaccine suite in Bengaluru

In talks with global players seeking manufacturing opportunity for potential Covid-19 vaccine

Eyeing the vaccine opportunity created by the Covid-19 pandemic, Strides Pharma Science is in the process of setting up a vaccine suite in Bengaluru, said a top company official. The vaccine lines are a part of the $40 million investment that the company had committed for its associate Stelis Biopharma.

“Existing vaccine capacities globally are not sufficient to cater to the entire global population and there is going to be high demand,” said R Ananthanarayanan, managing director & chief executive officer of the Bengaluru-headquartered pharma company.

Strides is in discussions with all the global players who are in advanced stages of Covid-19 vaccine trials for manufacturing opportunity, said Ananthanarayanan. “While we will manufacture and supply for the global requirement, we would like to retain the ability to supply in the India market too,” he said.

The vaccine suite will have the capacity to manufacture 500 million doses of liquid vaccine and 300 million doses of Lyophilised vaccines annually.

While the equipment installations at the unit will be completed by December end, the suite will go full stream from January. It will be able to produce different types of vaccines including viral vectors, protein subunits, RNA and DNA based vaccines.

The company is also in the process of getting clinical approval for its antiviral Favipiravir drug, a potential Covid-19 treatment, to be supplied to regulated global markets.

Strides on Thursday posted a 45.75 per cent decline in consolidated net profit at Rs 76.9 crore for the quarter ended September. It had posted a net profit of Rs 141.90 crore for the corresponding period of the previous financial year, it said.

“Q2 FY21 was marked by headwinds from Covid-19 that impacted manufacturing and supply of products from our India sites due to intermittent shutdowns. We faced continued challenges in the market due to reduced footfalls in the market, lower elective surgeries and lower prescription rates. However, we continue to believe in our growth momentum across markets,” said Ananthanarayanan.

Consolidated revenue stood at Rs 806.42 crore in the quarter, a rise of 10 per cent as compared to the previous corresponding quarter.