Indian pharmaceutical company Strides Pharma Science Ltd. will invest up to $40 million into Stelis Biopharma Pvt. Ltd. in order to regain a controlling stake, multiple sources are reporting. So far, Strides has invested $35 million for a 43% ownership stake in Stelis. According to the articles, Strides plans to use its controlling stake to focus on sterile injectables. Strides previously left the U.S. sterile injectable market in 2013, after selling its injectable unit Agila Specialties to Mylan. Stelis has a research facility in Bengaluru, India, and its current portfolio includes biosimilars produced from microbial production technology.
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