Strides Pharma shares climb 12% on JV with China's Sihuan Pharma
Updated : July 30, 2019 11:57 AM IST
Both the companies will set up a JV company based in Hong Kong to be christened as Sihuan Strides HK, where SPG, one of China's leading pharmaceutical companies, will own 49 percent stake, Strides Pharma said in a statement.
Strides will license four products immediately to this JV with an option to expand the portfolio subsequently and will receive a licensing fee for each product in-licensed to the JV.
It will supply these products to the JV from its manufacturing facilities at India and Singapore. The JV will explore setting up local manufacturing in China in due course, the statement added.