Page 5 - Strides Pharma News Today

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Strides Pharma shareholders would receive 1 share of OneSource for every 2 shares of Strides in the swap ratio of 1:2

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Strides Pharma news: Strides Pharma Science announced that its step-down wholly-owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, received USFDA (United States Food and Drug Administration) approval for Icosapent Ethyl Capsules 0.5 gram and 1 gram. Get more Stocks News and Business News on Zee Business.

State Bank of India (SBI) has raised about Rs 10,000 crore through issuance of infra bonds, which carry a coupon rate of 7.4%. This is the fourth such issuance of infra-related bonds by the Bank.

Strides Pharma Global Pte Limited, Singapore has received approval for Icosapent Ethyl Capsules 0.5 gram and 1 gram, from the USFDA.

Strides Pharma Science on Monday said it would spin off its contract development and manufacturing organisation (CDMO) and soft gelatin business into a new entity which would list in the next 12-16 months.

Pharmaceutical company Strides Pharma is planning to demerge its contract development and manufacturing services (CDMO) assets into an associate company called Stelis Biopharma. The new company, named OneSource, will focus on biologics, complex injectables, and soft gelatin capsules. Shareholders of Strides Pharma will receive one share of OneSource for every two shares they hold, giving them a 44% stake in the new company. The demerger will reduce Strides Pharmas debt by $35 million.

Demerger will be completed by April 1, 2024 according to the stock exchange filing