Strides Pharma Science Limited(Strides)

Strides Pharma Science Limited
(Formerly Strides Shasun Limited)
MNC (several JVs, and subsidiaries)
Industry Pharmaceutical
Founded 1990
Founder ARUN KUMAR
Headquarters Strides House, Bilekahalli, Bannerghatta Road, Bangalore, India
Key people
 Arun Kumar, Group CEO & Managing Director
Shashank Sinha, CEO – International Business
Badree Komandur, Executive Director-Finance
Dennis Bastas, Executive Chairman – Arrow Pharmaceuticals Australia,
Mohan Kumar, CEO & Managing Director – Strides Pharma Global
Gabriel Richard Simaan, Managing Director – Trinity Pharma
Perviz Dhanani, Managing Director – Universal Corporation Ltd, Kenya
Kevin Knarr, Sr. Vice President – Strides Pharma Inc
Mohan Devneni, President – Technical – Strides Pharma Inc.
Products General Tablets,
Hard Gelatin Capsules,
Soft Gelatin Capsules,
Sachets,
Semi Solids,
Ointments,
Creams
Revenue Increase $400 million (2017)[1]
Number of employees
 approximately 2000
Parent Strides Pharma Science Limited
Website www.strides.com

Strides Pharma Science Limited(Strides), incorporated in 1990, is a global pharmaceutical Company, headquartered in Bangalore, India. The Company is listed on the Bombay Stock Exchange (Scrip Code: 532531) and National Stock Exchange of India Limited (Scrip Code: STAR).

Strides is engaged in the development, manufacture and marketing of a wide range of IP-led niche and technically complex pharmaceutical products for regulated and emerging markets. It has a global manufacturing footprint with seven manufacturing facilities spread across three continents including 4 US FDA(US Food and Drug Administration) approved facilities and two facilities for the emerging markets. Strides also has in-house R&D infrastructure in India.

History

Strides was founded in 1990 by Arun Kumar as “Strides Pharmaceuticals Private Limited”. Over the years, it has grown through numerous strategic moves to attain its position of today.

Some of the key milestones and phases for Strides areː
1990-94 - Incorporation and Initial Phase
  • Initial foray as an emerging market FDF company with third party manufacturing
1994-03 - Foray into Specialised manufacturing
  • Commenced manufacturing of sterile’s, soft-gel capsules, ARVs and anti-TB drugs
2004-08 - Front-end acquisitions and R&D pipeline
  • Acquisition of front-end platforms in SE Asia, Australia and India
2008-12 - Regulated markets focus
  • Partnerships with global pharmaceutical companies for regulated markets
2012-13 - Value creation in Strides 1.0
- Sale of Branded generics business in Australia (Ascent)
  • Sale to Watson for A$375 million in 2012
-Sale of Specialty injectables(Operated as Agila)
  • Sale to Mylan for enterprise value of up to US$1.75 billion in 2013
  • Distributed dividends @ INR 605/share in FY14 and FY15; Total pay-out of US$655 million
2014- Current - Rebuilding capabilities and Scale in Strides 2.0
  • Merger[2] with Shasun for pipeline and supply chain security
  • Re-entered Australia through Arrow. Bolt on acquisitions of Generic Partners ,Pharmacy Alliance
  • Acquisition of Universal Pharma in Kenya for African business
  • Re-established R&D base(Previous R&D was part of Agila divestments to Mylan)
  • Acquisitions in US and Australia for new products
  • JV with Vivimed for pipeline and US FDA formulations facility
  • Divestment of India branded business[3] to Eris Life Science for Rs 5,000 million
  • Demerger [4] of Human commodity API business to Solara Active Pharma Sciences
  • Foray into South Africa (Trinity)[5]
  • Proposed merger [6][7] with Apotex in Australia to become a leading player (Subject to regulatory approvals)

Business segments

Regulated markets

Emerging markets

  • Front-end focussed markets of Africa, Southeast Asia with a portfolio of branded generics
  • Two manufacturing facilities dedicated for emerging market operations – One facility at Universal Corporation, Kenya and one manufacturing facility in Bengaluru, India
  • Catering to donor-funded programmes using the local facility in Africa.

Key markets of operations

North America

Strides Pharma Inc. is front-end company for Strides’s operations in the US.

Strides re-entered the US market in 2015 post the divestment of its Specialty injectables franchisee- Agila to Mylan Inc. Its focus is mainly on niche, low volume, low competition, high technology barrier products built around Modified Releases, soft-gel capsules (SGCs), topicals and liquids. In the Consumer Healthcare space, Strides operate both in Brands as well as Private Labels and its key brands include JointFlex®, Vanquish®, Pediacare® and Fergon®. At the end of July 2018, Strides had a portfolio of 78 filed ANDAs with 51 product approvals.

Australia

Strides is one of the early entrants to the market through Ascent Pharma, which in the year 2012, was acquired by Watson Pharmaceuticals. Strides re-entered the market in 2015 as Arrow Pharmaceuticals(Arrow) and is amongst the top 3 generics companies of Australia.Arrow has a nationwide sales presence, driving distribution and loyalty in generics and its proprietary "Chemist’s Own" over-the-counter (OTC) portfolio. It sells over 190 molecules with a pharmacy coverage of 1,400+ stores and 4,000+ pharmacy accounts.

In 2018, Strides also announced its intent to merge Arrow with Apotex's Australian business. The deal closure is subject to regulatory approvals.

Africa

Strides business activities in this continent are driven by the philosophy of “In Africa for Africa” which it bolstered with the acquisition of a WHO-approved facility under Universal Corporations in Kenya. Strides has a significant sales footprint in 40+ African countries with a robust medical field force in Africa that helps extend reach to 30,000 doctors.

UK

Strides operates in the UK through its step down wholly owned subsidiary Strides Pharma UK Ltd, who have been reliably supplying high-quality generics to Tier 1 & Tier 2 wholesalers in the retail sector as well as the NHS through Commercial Medicines Unit tenders.

Institutional business

Strides is an approved supplier to institutionally funded aid projects and Global Procurement Agencies like USAID, Global Fund, PEPFAR (The US President’s Emergency Plan for AIDS Relief), UNICEF, WHO, Pan American Health Organization (PAHO), United Nations Development Program (UNDP), Population Services International (PSI), Chemeonics, PFSCM, amongst others. Its products are supplied to disease-prone regions in Africa, Asia and Latin America with distribution to several areas.

Manufacturing facilities in India and overseas

Strides has a global manufacturing footprint with seven production units spread across three continents. Five of its manufacturing facilities cater to regulated markets have key regulatory approvals including USFDA, UK MHRA, TGA, PMDA ANVISA, WHO. The Company also own two dedicated production facilities for the emerging markets at Kenya and Bengaluru, India.

Research and development in Bengaluru, India

Strides is led and driven by its expertise in Research and Development, visible through its success in creating niche and differentiated products portfolio. Its Global Formulation R&D centre at Bangalore drives high value product delivery via latest technology platforms.

References

  1. ↑ http://www.stridesarco.com/pdf/Annual%20Report/strides_shasun_annual_report_2016_17.pdf
  2. ↑ http://www.stridesarco.com/pdf/pressrelease/2015/update_on_scheme_of_amalgamation_of_shasun_and_strides_sept_16_2015.pdf
  3. ↑ http://www.stridesarco.com/pdf/pressrelease/2017/strides_shasun_divests_india_brand_business_to_eris_lifesciences.pdf
  4. ↑ https://health.economictimes.indiatimes.com/news/pharma/strides-shasun-seeks-shareholders-nod-to-change-name-to-strides-pharma-science/64365342
  5. ↑ http://www.stridesarco.com/pdf/pressrelease/2018/se_intimation_trinity_closure_20180119.pdf
  6. ↑ http://www.stridesarco.com/pdf/pressrelease/2018/aardvark_20180509.pdf
  7. ↑ https://www.indiainfoline.com/article/news-top-story/keep-an-eye-on-strides-shasun-118051000005_1.html

[1] [2] [3] [4] [5] [6]

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