Strides Pharma Science surges on entering into strategic partnership with Orbicular
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Strides Pharma Science is currently trading at Rs. 339.20, up by 3.65 points or 1.09% from its previous closing of Rs. 335.55 on the BSE.
The scrip opened at Rs. 337.00 and has touched a high and low of Rs. 340.70 and Rs. 330.35 respectively. So far 19785 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 392.20 on 22-Dec-2022 and a 52 week low of Rs. 263.45 on 11-May-2022.
Last one week high and low of the scrip stood at Rs. 346.00 and Rs. 333.05 respectively. The current market cap of the company is Rs. 3052.23 crore.
The promoters holding in the company stood at 28.27%, while Institutions and Non-Institutions held 37.14% and 34.59% respectively.
Strides Pharma Science and Orbicular Pharmaceutical Technologies (Orbicular) have entered into a strategic partnership to develop, manufacture and commercialize nasal sprays for the global markets. Orbicular, a speciality pharmaceutical company focused on research and product development, will use its expertise in drug delivery and formulation to develop nasal sprays for global markets. The company has deployed a thorough product design approach to ensure the nasal sprays are robust, following 'Quality-by-Design' principles. Orbicular has a stellar product development and licensing track record across various Complex Injectables, Topicals, Ophthalmic, Parenteral, Nasal Spray, and Inhalation product assets.
Strides will commercialize these nasal sprays across the markets using its commercial engine in the US, Europe, and several other markets. The products will be manufactured at Company’s state-of-the-art Chestnut Ridge, New York facility. The facility has comprehensive capabilities for nasal spray manufacturing in the unit dose and multi-dose format, including for controlled substances.
Strides Pharma Science (Formerly Strides Shasun) is a pharmaceutical company with 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.
