Strides Pharma Science said on Friday that its board of directors has approved an additional investment of up to 40 million dollars (about Rs 290 crore) over the next two years for a controlling stake in its associate company Stelis Biopharma.
Strides already holds about 43 per cent in Stelis. The proposed new investments will be a primary infusion into Stelis and give Stides a controlling stake.
Stelis is in the investment phase and has not started commercial operations yet.
Strides has a major focus on development and manufacture of IP-led niche finished dosage formulations. It is also among the world’s largest manufacturers of soft gelatin capsules. – Business Standard