Shares of Strides Pharma Science Ltd traded flat on 9th September after touching a day’s high of Rs 894. This occurred even as the company announced that its wholly owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, had entered into a strategic product development partnership with Kenox Pharmaceuticals Inc.

Strides Pharma has teamed up with Kenox Pharmaceuticals to boost its nasal spray product pipeline for the US market.

Kenox is a fast-growing contract development and manufacturing firm. It specialises in orally inhaled and nasal drug products (OINDPs). Kenox will provide formulation and development expertise. This will help Strides in creating and filing regulatory approvals for multiple nasal spray products.

Though product details haven’t been shared yet, the partnership aims to speed up the launch of affordable, high-quality medicines in the US.

Aditya Kumar, Executive Director of Business Development at Strides, said nasal sprays remain a key focus area for the company. This tie-up builds on the progress already made. He added that Kenox’s strengths in formulation and development complement Strides’ manufacturing and market presence.

Dr. Sitaram Velaga, Founder and CEO of Kenox, called the partnership a major milestone. He noted that it validates Kenox’s expertise in OINDPs. This will help deliver essential drugs to patients worldwide at affordable prices.

At 11:17 AM, the shares of Strides Pharma were trading 0.068% higher at Rs 882 on NSE.

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