Update on Steriscience pharma - Angel Broking

Mr. Yash Gupta - Equity Research Associate, Angel Broking Ltd

"Strides to invest Rs 135 cr over the next 2 years in Steriscience pharma for 54 pc stake in the company, to make it the Company's dedicated arm for global sterile injectables business. Steriscience has started the development activity for 20+ quick to launch products and expects the first Abbreviated New Drug Application (ANDA) filing to be achieved within FY21. Investment in Steriscience will allow Strides to leverage its rich expertise and experience in the high-value injectables business. Steriscience is designed for a global foray in sterile injectables leveraging the group's rich experience in the domain. It will be a lighter, faster and yet more valuable platform with a robust B2C strategy that bodes well with the industry opportunity."

Shares of Strides Pharma Science Ltd was last trading in BSE at Rs.673.15 as compared to the previous close of Rs. 685.9. The total number of shares traded during the day was 179021 in over 6298 trades.

The stock hit an intraday high of Rs. 702 and intraday low of 655.3. The net turnover during the day was Rs. 122325399.

Source : Equity Bulls

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