Strides Pharma Science Limited — JV/Acquisition, 19-11-2024: Demerger

Strides Pharma Science has received NCLT approval for a scheme to create OneSource, marking a significant move to enhance its position in the specialty pharma CDMO sector. This strategic amalgamation combines the specialized businesses of Strides, Steriscience, and a high-end biologics CDMO previously operated by Stelis Biopharma. Supported by an equity commitment of INR 8,010 million (USD 95 million) at a valuation of USD 1.65 billion, OneSource is set for dynamic growth. Shareholders of Strides will receive One share of OneSource for every two shares they hold, with the demerger effective from April 1, 2024.