Strides Pharma Science Limited (Strides) informed exchanges that it received overwhelming approval from its equity shareholders and secured creditors, as well as those of OneSource Specialty Pharma Limited and SteriScience Specialties Private Limited, in meetings convened under the guidance of the National Company Law Tribunal.
In the exchange filing, the company shared, “This is a critical step in the creation of OneSource and the support from Shareholders and Secured Creditors underscores the confidence in the Company’s strategic initiative to create OneSource – India’s first specialty pharma Contract Development and Manufacturing Organization (CDMO) covering advanced sectors like biologics, complex injectables, and oral technologies, including soft-gelatin capsules.”
Strides announced in September 2023 its strategic initiative to establish OneSource as an Independent Specialty Pharma CDMO by combining Strides’ Oral Technologies (Soft Gelatin Capsules) business, SteriScience Specialty Private Limited’s Sterile Injectables business and OneSource’s Biologics and High-End Drug Devices combination business.
