Strides Pharma’s Slower U.S., Africa Business Drag Down Q3 Earnings: Motilal Oswal
An employee checks capsules as they move along the production line. (Photographer Andrey Rudakov/Bloomberg)

Strides Pharma’s Slower U.S., Africa Business Drag Down Q3 Earnings: Motilal Oswal

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Motilal Oswal Report

Strides Pharma Science Ltd.’s Q3 FY21 performance came in below estimates due to the Covid-19-related impact on the US.. and Africa business.

Recovery in the other regulated business was led by healthy volume traction. At the strategic level, the company would de-merge its biotech business under Stelis Biopharma Pvt. Ltd. and intends to list this, thereby unlocking value for shareholders.

We cut our earnings estimate by 19%/7%/5% for FY21/FY22/FY23, accounting for weak flu season related demand in the U.S. and slower offtake of medicines related to acute therapies in the Africa business.

Click on the attachment to read the full report:

Motilal Oswal Strides Pharma Q3FY21 Result Update.pdf

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