For its foray into China pharmaceutical marketStrides Pharma Science announced that its step down subsidiary Strides Pharma Global Pte, Singapore (SPG) has entered into a Joint Venture (JV) with Sun Moral International (HK), a wholly-owned subsidiary of Sihuan Pharmaceutical Holdings Group (Sihuan), one of China's leading pharmaceutical companies. The new JV company based in Hong Kong to be christened as Sihuan Strides HK. SPG will own a 49% stake in this company.
Strides will license four products immediately to this JV with an option to expand the portfolio subsequently. Strides will receive a licensing fee for each product in-licensed to the JV. Strides will supply these products to the JV from its manufacturing facilities at India and Singapore. The JV will explore setting up local manufacturing in China in due course.
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