Business Update23 Dec 2023, 04:30 pm
Strides Pharma Science Limited Update on Stelis Biopharma's Transaction with Syngene
AI Summary
Stelis Biopharma, an associate company of Strides, has provided an update on the transaction with Syngene to transfer Stelis' Unit 3 multi-modal facility in Bengaluru. The gross consideration for the transaction was INR 617 crores, and Stelis has received INR 395 crores so far. Syngene is withholding INR 10 crores, which will be released post fulfilment of few additional conditions by Stelis.,
Key Highlights
- Stelis Biopharma has transferred its Unit 3 multi-modal facility in Bengaluru to Syngene
- The transaction was worth INR 617 crores
- Stelis has received INR 395 crores so far
- Syngene is withholding INR 10 crores pending fulfilment of additional conditions