Onesource Specialty Pharma

OneSource Specialty Pharma's board approved a composite scheme involving mergers of four companies - Steriscience Specialties, Brooks Steriscience, Steriscience Pte, and Strides Pharma Services - into OneSource. The scheme includes specific share exchange ratios: 137 OneSource shares for every 10 Brooks Steriscience shares, and 53 OneSource shares for every 100 Steriscience Pte shares. Post-merger, promoter shareholding will increase from 29.77% to 36.17%, while public shareholding will decrease from 70.23% to 63.83%. The consolidation aims to strengthen OneSource's contract development and manufacturing operations by integrating sterile injectable operations and adding European manufacturing capabilities. Additionally, the scheme includes financial restructuring to offset negative retained earnings against securities premium account. The merger requires approvals from shareholders, creditors, stock exchanges, SEBI, National Company Law Tribunal, Singapore Court, and other regulatory authorities. OneSource reported standalone profits in financial year 2024-25 after previous losses.

OneSource Specialty Pharma Limited delivered robust Q1 FY26 financial performance with revenue of INR 3,273 million, marking 12% year-over-year growth. EBITDA surged 37% to INR 885 million with margins improving 500 basis points to 27%. The company turned profitable with adjusted PAT of INR 371 million compared to negative PAT in the previous year, achieving adjusted EPS of INR 3.2 per share. The contract development and manufacturing organization received a credit rating upgrade to the 'A' family. All three business segments - drug-device combinations, injectables, and soft gelatin capsules - performed in line with expectations. The company is accelerating Phase 2 capacity expansion for drug-device combinations to reach 200 million cartridges by end of 2026, up from current capacity of 40 million units. OneSource successfully completed 25 regulatory inspections across all sites and received USFDA and ANVISA approvals. The company announced a strategic partnership with Swedish biotech Xbrane Biopharma and is evaluating acquisitions of facilities in Poland and India with combined revenue potential of $100 million. Management maintains organic revenue target of $400 million by FY28, with commercial supplies of Semaglutide expected to begin in H2 FY26.

OneSource Specialty Pharma Limited's Board of Directors has given in-principle approval to evaluate the potential acquisition of Sterile Injectable CDMO and CMO businesses from Steriscience Pte. Limited and Brooks Steriscience Limited. The potential transaction would include a USFDA-approved sterile fill-finish manufacturing facility in Warsaw, Poland, with capacity expansion capabilities for drug-device combination products, and an integrated USFDA-approved carbapenem facility in Vadodara, India. Both Steriscience SG and Brooks Steriscience Limited are majorly owned by the company's promoters. The Board has authorized management to conduct detailed evaluation of the transaction and appoint necessary consultants, advisors, valuers, and merchant bankers. The company will make appropriate disclosures following board consideration and approval.