Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Strides Pharma Jumps 10% After Company Inks Pact with China’s Sihuan Pharma

At 9:33 am, shares of Strides Pharma Science were trading at Rs 382.55, up 8.4%, on BSE after hitting an intra-day high of Rs 387.80. The stock has fallen 10% in the last one year.

Trending Desk

Updated:July 30, 2019, 10:20 AM IST
facebookTwitter Pocket whatsapp
Strides Pharma Jumps 10% After Company Inks Pact with China’s Sihuan Pharma
Image for representation.

Strides Pharma Science Ltd shares surged nearly 10% in early trade on Tuesday, i.e. 30 July, after the company announced its entry into the Chinese market through a joint venture between its Singapore-based step down subsidiary Strides Pharma Global Pte (SPG) and Sun Moral International (HK) Ltd, a wholly-owned subsidiary of Sihuan Pharmaceutical Holdings Group Ltd (Sihuan), one of China’s leading pharmaceutical companies.

At 9:33 am, shares of Strides Pharma Science were trading at Rs 382.55, up 8.4%, on BSE after hitting an intra-day high of Rs 387.80. The stock has fallen 10% in the last one year.

Both the companies will set up a JV company based in Hong Kong to be called Sihuan Strides HK, where SPG will own 49% 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 venture. It will supply these products from its manufacturing facilities at India and Singapore.

“We are delighted to partner with Sihuan Pharmaceutical with the initial set of products having a significant market opportunity in China. We look forward to strengthening the partnership in the near term to build a strong pharmaceutical franchise in China,” Strides Group CEO and Managing Director Arun Kumar said.

Meanwhile, Sihuan will leverage its strong sales force of over 4,000 people and over 3000 distributors across Mainland China to market these products. “Sihuan will give full scope to the JV in sales and marketing strategies and continue to expand the market rapidly through our marketing channels,” Sihuan chairman and executive director Che Fengsheng said.

The JV will also explore setting up local manufacturing in China in due course, the statement added.

China is the second-largest pharmaceutical market with a $137 billion market opportunity. Sihuan has a market share of 8.3% in the cardio-cerebral vascular market and presence in other therapeutic areas.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

facebookTwitter Pocket whatsapp
Most Active
Company Price Change %Gain
IndusInd Bank 1,144.15 -2.44
Tata Chemicals 750.95 -0.17
IRCTC 1,639.30 7.98
Bharti Airtel 547.75 -3.05
Muthoot Finance 862.85 -1.26
Top Gainers
Company Price Change %Gain
SBI 317.60 1.08
Infosys 797.45 1.02
Power Grid Corp 185.00 0.82
Tech Mahindra 839.00 0.71
TCS 2,215.30 0.55
Top Losers
Company Price Change %Gain
Tata Motors 161.60 -4.44
Bharti Airtel 547.75 -3.05
IndusInd Bank 1,144.15 -2.44
Maruti Suzuki 6,772.00 -1.92
Hero Motocorp 2,253.40 -1.35

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results