Strides Pharma to spin off CDMO assets to form a separate unit

Pharmaceutical company Strides Pharma is planning to demerge its contract development and manufacturing services (CDMO) assets into an associate company called Stelis Biopharma. The new company, named OneSource, will focus on biologics, complex injectables, and soft gelatin capsules. Shareholders of Strides Pharma will receive one share of OneSource for every two shares they hold, giving them a 44% stake in the new company. The demerger will reduce Strides Pharma's debt by $35 million.

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