Strides Pharma Science Limited — Important, 14-03-2025: General Updates

Strides Pharma Global Pte. Limited, a step-down wholly-owned subsidiary of Strides Pharma Science Limited, is set to acquire a 100% stake in Amexel Pte. Ltd., Singapore, for a nominal consideration of USD 10. This acquisition aims to establish a platform facilitating collaborations and business engagements among pharmaceutical manufacturers and suppliers across India, China, and Southeast Asia. Amexel, which is yet to commence operations, had no turnover as of December 31, 2023, with negligible financials.

The strategic focus for Amexel will include in-licensing, technology transfers, and sourcing technical expertise for pharmaceutical production. It also aims to build partnerships for the commercialization of products across various territories. Notably, this transaction will involve related party transactions as Amexel is being acquired from a director of a subsidiary, although it is being conducted at arm’s length. Completion of the acquisition is targeted by March 31, 2025. This move could enhance Strides' market positioning and operational capabilities within the pharmaceutical sector.