Date: 30-Jul-2019

Strides inks JV pact with Chinas Sihuan Pharma

Strides Pharma Science said on Monday it has entered into a joint venture with Chinas Sihuan Pharmaceutical Holdings Group with a view to fast track its entry into the neighbouring country. The JV pact was inked between Indian firms step-down subsidiary Strides Pharma Global Pte, Singapore(SPG) and Sun Moral International (HK) Limited, a wholly-owned subsidiary of Sihuan Pharmaceutical Holdings Group Ltd (Sihuan). The JV fast tracks Strides entry into China, the second-largest pharmaceutical market in the world offering a USD 137 billion IQVIA market opportunity, Strides Pharma Science said in a statement. Both the companies will set up a new JV company based in Hong Kong to be christened as Sihuan Strides HK Ltd. SPG will own a 49 per cent stake in this company, it added.