Strides to Establish India’s First Specialty Pharma CDMO, OneSource

• Strides Pharma Science has received shareholder and secured creditor approval for the creation of OneSource Specialty Pharma Limited, India’s first specialty pharma CDMO.

• The initiative now awaits final clearance from the NCLT Mumbai Bench before proceeding with stock exchange listings.

Strides Pharma Science has announced that its equity shareholders and secured creditors have approved the company’s plan to create OneSource Specialty Pharma Limited, marking a significant step in the establishment of India’s first specialty pharma Contract Development and Manufacturing Organization (CDMO). The approval extends to two additional entities, OneSource and SteriScience Specialties Private Limited, following meetings under the guidance of the National Company Law Tribunal (NCLT).

In the meetings, all voting secured creditors supported the scheme, reflecting strong confidence in the initiative. OneSource will focus on biologics, complex injectables, and oral technologies, including soft-gelatin capsules, consolidating businesses from Strides, SteriScience, and OneSource (formerly Stelis).

This initiative, first unveiled in September 2023, received stock exchange approval in May 2024. Following the shareholder and creditor backing, Strides will now seek final clearance from the NCLT Mumbai Bench before moving forward with listing approvals from the BSE and NSE.

“We are pleased to have received strong backing from our shareholders and secured creditors for the creation of OneSource,” commented Arun Kumar, Executive Chairperson of Strides. “We believe OneSource will unlock considerable value for Strides’ stakeholders upon its listing.”