Bengaluru - Strides Pharma Science Ltd (BSE: 532531, NSE: STAR) today announced its consolidated financial results for the quarter (Q3FY21) and Nine months ended December 31, 2020 (9MFY21).

Commenting on the performance, Dr R Ananthanarayanan, Managing Director & CEO, remarked, 'We are pleased to report steady performance of our businesses in Q3FY21. Our performance was led by continued momentum in regulated markets with consistent growth being delivered by our frontends over last many quarters now. We are particularly pleased with the strong bounce back in the other regulated markets led by healthy volume traction. Our portfolio maximization strategy is yielding the desired results and we continue to invest in R&D to expand our product offering across regulated markets. Our US strategy of building the front end and tapering the partner business is playing out to plan and our frontend now contributes 86% of our US revenues . We are pleased to have received the USFDA approval for the gTRUVADA. During the quarter, we have successfully commercialized TLD from our institutional portfolio.

Our revenue during the quarter has grown 34% YoY (ex-Ranitidine) to 8,375m with an EBITDA of 1,661m up 76% YoY, translating into a healthy EBITDA margin of 20% expanding 470bps YoY. The business has generated healthy operating cash during the quarter which has helped us reduce the pharma net debt by 683m QoQ.'

Strides today also announced the strengthening of its global executive management team to sharpen its focus on key business growth areas. Terrance Coughlin as 'Chief Executive Officer - US, and Rahul Garella as 'Chief Commercial Officer - International Markets' (i.e., Other Regulated Markets, Emerging Markets) respectively will assume their positions at Strides beginning March 2021. In January 2021, Christoph Funke joined the Company as its Chief Operations Officer, and in November 2020, Dr. Raviraj Pillai joined Strides as its Chief Scientific Officer. The new members of the top management will report to Dr. R. Ananthanarayanan, Managing Director & Chief Executive Officer of Strides

Commenting on the strengthening of the team, Dr. R. Ananthanarayanan, remarked: 'I am very happy to welcome such distinguished names into the Strides family. The calibration of the team is aimed at ensuring dedicated and expert leadership to our growth-driving businesses. Having identified our core strengths and long-term focus areas in the last year, we will now leverage the vast experience and expertise of these high- calibre leaders to consolidate our strengths in keeping with our current theme of 'Strategy at Play'. It also makes us well-positioned to plan our strategy roadmap for sustainable growth and value creation to continue to give our best to our patients and customers.'

About Strides

Strides, listed on the BSE Limited (532531) and National Stock Exchange of India Limited (STAR), is a global pharmaceutical company headquartered in Bengaluru, India. The Company mainly operates in the regulated markets and has an 'in Africa for Africa' strategy along with an institutional business to service donor-funded markets. The Company's global manufacturing sites are located in India (Chennai, Puducherry and two locations in Bengaluru), Singapore, Italy (Milan), Kenya (Nairobi) and the United States (Florida). The Company focusses on 'difficult to manufacture' products that are sold in over 100 countries.

Contact:

Badree Komandur

Tel: +91 80 6784 0747

(C) 2021 Electronic News Publishing, source ENP Newswire