Shares of Strides Pharma fell 3 per cent to Rs 939, down 6 per cent from its early morning high on the BSE on Friday after Aditya Puri joined as advisor to the Strides Group & Director of Stelis Biopharma. The drug maker’s stock hit a 52-week high of Rs 1,000 in intra-day trade today.

In the past six months, the stock has zoomed 130 per cent, as compared to 33 per cent rally in the S&P BSE Sensex.

At 10:27 am, the stock was trading 3.3 per cent lower at Rs 941 on the BSE, against, 0.86 per cent gain in the benchmark index. A combined around 945,000 equity shares had changed hands on the counter on the NSE and BSE, so far.

Aditya Puri was the founder-Managing Director and Chief Executive Officer of HDFC Bank from its inception in 1994 until his retirement from the position in October 2020.

“Puri’s appointment to the Stelis Board comes at an exciting juncture for the company as it transitions from its incubation phase to a consolidation and growth phase to establish itself as a partner of choice globally with the aim of bringing world-class treatments at affordable costs to patients in both emerging and developed markets,” Strides said in a press release.

Commenting on the development, Aditya Puri said: “I look forward to working with Arun and building world-class institutions to produce high-quality affordable biotherapeutics and CDMO services including those needed to combat the ongoing COVID-19 pandemic.”

With Stelis poised for its next leg of growth, this is the right time to expand the Board, and ensure robust guidance and governance by the best possible industry minds, said Arun Kumar, Founder & Chairman of the board of Strides.

Stelis Biopharma is a vertically integrated biopharmaceutical company. Stelis offers CDMO services across all phases of pre-clinical and clinical development and commercial supply of biologics. Strides is mainly operates in the regulated markets and has an “in Africa for Africa” strategy along with an institutional business to service donor-funded markets.

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Read our full coverage on Strides Pharma Science First Published: Fri, January 08 2021. 10:30 IST Read More On

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