Strides Pharma gains 3% as Singapore arm acquires 100% stake in Amexel Pte

Strides Pharma shares gained 2.8 per cent on BSE, logging an intraday high at Rs 603 per share in Tuesday's trade. The buying interest sparked after the company arm Strides Pharma Global proposed to acquire 100 per cent stake in Amexel Pte. Ltd., Singapore.

 

Around 10:30 AM, Strides Pharma share price was up 2.23 per cent at Rs 599.10 per share on BSE. In comparison, the BSE Sensex was up 0.43 per cent at 74,145.46. The market capitalisation of the company stood at Rs 5,521.47 crore. The 52-week high of the stock was at Rs 804.12 per share and the 52-week low was at Rs 329.76 per share. 

 

"It is proposed to acquire 100 per cent stake in Amexel Pte. Ltd., Singapore, which will be utilised as the entity for the above business platform," the filing read

 

The acquisition was proposed after Strides Pharma Global Pte. Limited, a subsidiary of the company in Singapore, proposed to create a platform that shall foster introductions, collaborations, procurement and business engagement between pharmaceutical manufacturers and suppliers of India, China, and other Southeast-Asian countries.   ALSO READ: SpiceJet shares fly 7% as promoter to infuse Rs 294 crore in company

 

Amexel is a company incorporated under the laws of Singapore on March 22, 2023 and is yet to commence its operations. 

 

Strides Pharma (Strides Pharma Science Limited) is a global pharmaceutical company based in India, specializing in the development, manufacture, and distribution of generic medicines, including injectables, oral solids, and specialty products. It has a significant global presence, with operations in over 100 countries, including strong markets in the US, Europe, and Australia. 

 

The company’s product portfolio includes anti-retrovirals, oncology drugs, antibiotics, and other therapeutic areas, with a focus on high-value injectables. Strides Pharma operates state-of-the-art manufacturing facilities across India and abroad, many of which are FDA-approved. It has made strategic acquisitions, such as the purchase of Agila Specialties, to expand its capabilities in injectables.   ALSO READ: Maharashtra Seamless rises 2% on Rs 298-cr deal win; check key details here

 

The company places a strong emphasis on R&D to develop complex generics and specialty drugs. Despite facing challenges in the competitive pharmaceutical sector, Strides Pharma continues to grow by diversifying its offerings and investing in emerging markets.

 

In the past one year, Strides Pharma shares have gained 53 per cent against Sensex's rise of 1.4 per cent.