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Aditya Puri joins Strides Group as advisor

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Strides Pharma Science said that Aditya Puri has joined the Strides Group as an advisor and also as a director of its associate company, Stelis Biopharma.

Stelis Biopharma is a vertically integrated biopharmaceutical company. The company offers end-to-end state-of-the-art CDMO services across all phases of pre-clinical and clinical development and commercial supply of biologics.

A stalwart of the Indian banking and financial services industry, Aditya Puri was the founder-managing director and chief executive officer of HDFC Bank from its inception in 1994 until his retirement from the position in October 2020.

Prior to setting up HDFC Bank, he was chief executive officer of Citibank Malaysia with nearly two decades of overall banking experience across markets with Citibank.

Puri's appointment to the Stelis Board comes at a juncture for the company as it transitions from its incubation phase to a consolidation and growth phase to establish itself as a partner of choice globally with the aim of bringing world-class treatments at affordable costs to patients in both emerging and developed markets.

Commenting on the development, Arun Kumar, founder & chairman of the board of Strides, said: I am delighted to welcome Aditya as our Advisor and to the Stelis Board. This a huge vote of confidence in the potential of Stelis. Aditya's illustrious legacy is well-known. Having nurtured HDFC Bank since inception, his deep experience will be extremely valuable for the Strides Group and Stelis in particular. With Stelis poised for its next leg of growth, this is the right time to expand the Board, and ensure robust guidance and governance by the best possible industry minds. I look forward to working with Aditya and leveraging his expertise to take Stelis to new heights.

Strides Pharma Science is a global pharmaceutical company. It focuses on "difficult to manufacture" products that are sold in over 100 countries. The company has 127 cumulative ANDA filings with USFDA of which 94 ANDAs have been approved and 33 are pending approval.

On a consolidated basis, the company's net profit dropped 43.64% to Rs 79.98 crore on a 10.97% to Rs 793.55 crore in Q2 September 2020 over Q2 September 2019.

The scrip shed 0.66% to Rs 967.05. It traded in the range of 965.90 and 1000 so far during the day.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Fri, January 08 2021. 09:24 IST