The Bengaluru-headquartered company believes Stelis could be a disruptor in insulin accessibility and affordability.
Strides predominantly sells Ranitidine tablets in the US markets
The stock of pharmaceuticals company was trading lower for the fifth straight day, slipping 14 per cent, as against a 2 per cent rise in the benchmark S&P BSE Sensex during the week.
Strides Pharma Global Pte (Singapore) and Sun Moral International (Hong Kong), a wholly-owned subsidiary of Sihuan Pharmaceutical Holdings, have entered into a JV to form called Sihuan Strides.
The regulator found 'significant violations' of current good manufacturing practice regulations at Strides Pharma's plant in Puducherry
The drug firm, however, did not provide any details of the contents of the warning letter received from the regulator.
The product will be manufactured at Strides' facility in Bengaluru and will be marketed by Strides Pharma in the US market