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Strides Pharma Science to set up JV along with Sihuan Pharmaceutical

Capital Market 

For its foray into China pharmaceutical market

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

First Published: Mon, July 29 2019. 18:20 IST