Strides Pharma Share Price Gains 3% as Singapore Arm Acquires Amexel Pte

Strides Pharma share price rose 2.8% on the BSE, reaching an intraday high of ₹603 on Tuesday. The stock gained momentum after the company’s Singapore-based subsidiary, Strides Pharma Global, announced plans to acquire a 100% stake in Amexel Pte. Ltd.

At 10:30 AM, Strides Pharma was trading 2.23% higher at ₹599.10, while the BSE Sensex was up 0.43% at 74,145.46. The company’s market capitalisation stood at ₹5,521.47 crore. The stock’s 52-week high is ₹804.12, and the 52-week low is ₹329.76.

Acquisition Details

Strides Pharma Global, a Singapore-based subsidiary, plans to acquire Amexel Pte. Ltd. to establish a business platform aimed at fostering partnerships between pharmaceutical manufacturers and suppliers from India, China, and other Southeast Asian countries.

Amexel was incorporated in Singapore on March 22, 2023, and has not yet started operations.

About Strides Pharma

Strides Pharma is an Indian pharmaceutical company specialising in the development, manufacturing, and distribution of generic medicines, including injectables, oral solids, and speciality products. The company has a strong presence in over 100 countries, including the US, Europe, and Australia.

Its product portfolio includes drugs for oncology, anti-retrovirals, antibiotics, and other therapeutic areas, with a focus on high-value injectables. Strides Pharma operates advanced manufacturing facilities, many of which are FDA-approved.

Growth and Market Performance

The company has expanded through strategic acquisitions, such as Agila Specialties, to strengthen its injectable drug segment. It also invests heavily in R&D to develop complex generics and speciality medicines.

Over the past year, Strides Pharma’s stock has surged 53%, significantly outperforming the Sensex, which has risen just 1.4%.

Conclusion

The acquisition of Amexel Pte. Ltd. aligns with Strides Pharma’s strategy to expand its global business network. The company’s focus on speciality drugs and international markets continues to drive its growth in the competitive pharmaceutical industry.

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