Strides Pharma gains after biotech arm commissions vaccine manufacturing facility

Strides Pharma Science rose 2.29% to Rs 421.35 after the company said that Stelis Biopharma has commissioned its large-scale fully integrated vaccine manufacturing facility at Bengaluru, India.

The facility was successfully inspected by the Central Drugs Standard Control Organization (CDSCO). Stelis has also received an initial Export No Objection Certificate (NOC) from CDSCO to export up to 50 million doses of the Sputnik Light vaccine.

In March 2021, Stelis partnered with the Russian Direct Investment Fund (RDIF, Russia's sovereign wealth fund) to produce and supply the Russian Sputnik vaccine.

Stelis has now started manufacturing the Sputnik Light vaccine at a commercial scale, and as previously committed, the company is on track to commercialize this vaccine for Global markets in Q4 FY22.

Stelis' greenfield vaccine facility is one of the largest viral vector manufacturing sites. the site can offer flexible technologies to manufacture lentivirus, adenovirus and retrovirus products/ vaccines along with adherent and suspension-based processes. The drug product block of the facility is designed to produce up to 720 million doses in a year.

Stelis Biopharma is a vertically integrated biopharma and vaccines company that can develop and manufacture different sets of complex biologics, biosimilars, and vaccines.The company operates three business divisions viz. the Product division for biosimilars, Global CDMO Services and Vaccines. Stelis Biopharma is the biotech arm of Strides Pharma Science.

Strides Pharma Science is a global pharmaceutical company. The company mainly operates in the regulated markets and has an 'in Africa for Africa' strategy along with an institutional business to service donor‐funded markets. The company focuses on difficult to manufacture products that are sold in over 100 countries.

The company reported a consolidated net loss of Rs 162.55 crore in Q2 FY22 as against a net profit of Rs 80.94 crore in Q2 FY21. Revenue from operations during the quarter fell by 9.08% YoY to Rs 721.47 crore.

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