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Strides Pharma Science to additionally invest USD 40 mn for controlling stake in Stelis Biopharma

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Strides Pharma Science announced that the Board of Directors of the Company have approved an additional investment up to a maximum of US$ 40 million over a period of 24 months for a controlling stake in Stelis Biopharma (Stelis).

The proposed new investments will be a primary infusion into Stelis which will enable Stelis to achieve its objective of becoming a compelling global player in the biopharmaceutical space and also accelerate Strides' re-entry into sterile injectables business post the completion of the Company's non-compete period in December 2019.

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

First Published: Fri, September 20 2019. 13:22 IST