NewsOneSource Specialty Pharma Board Decides Against Pursuing Composite Merger Scheme in Current FormOneSource Specialty Pharma Board Decides Against Pursuing Composite Merger Scheme in Current Form
OneSource Specialty Pharma Limited's Board of Directors, at its meeting on May 13, 2026, decided not to pursue the composite scheme of arrangement and amalgamation involving Steriscience Specialties Private Limited, Brooks Steriscience Limited, Steriscience Pte. Limited, and Strides Pharma Services Private Limited in its current form. The proposed scheme, which had received in-principle approval on February 26, 2026, involved the acquisition of SteriScience's facilities in Poland and Baroda into OneSource. The board cited the best interest of all stakeholders and indicated it will revisit the transaction after the successful delivery of respective companies' FY28 guidance.
*this image is generated using AI for illustrative purposes only.
OneSource Specialty Pharma Limited's Board of Directors has resolved not to pursue the proposed composite scheme of arrangement and amalgamation in its current form, as communicated to the stock exchanges on May 13, 2026. The board deliberated the proposed transaction at its meeting held on the same date and concluded that it would not be in the best interest of all stakeholders to proceed at this stage. The company has indicated that it intends to revisit the transaction following the successful delivery of respective companies' FY28 guidance.
Background of the Proposed Scheme
The proposed transaction was a composite scheme of arrangement and amalgamation (merger by absorption) involving multiple entities. The scheme was structured under Section 230 to 232 read with Section 234, Section 52, and Section 66 of the Indian Companies Act, as well as Section 210 read with Section 212 of The Singapore Companies Act, 1967, and other applicable provisions of both statutes.
The key parties involved in the proposed scheme are outlined below:
| Party: | Role |
|---|---|
| OneSource Specialty Pharma Limited | Acquirer / Transferee Company |
| Steriscience Specialties Private Limited | Transferor Entity |
| Brooks Steriscience Limited | Transferor Entity |
| Steriscience Pte. Limited | Transferor Entity (Singapore) |
| Strides Pharma Services Private Limited | Transferor Entity |
Earlier In-Principle Approval
The development follows an earlier intimation dated February 26, 2026, wherein the company had disclosed receipt of in-principle approval for the proposed scheme of arrangement. The scheme related to the acquisition of the facilities of SteriScience — specifically those located in Poland and Baroda — into OneSource Specialty Pharma.
Board's Decision and Rationale
At the board meeting held on May 13, 2026, the Board of Directors deliberated on the proposed transaction and decided, in the best interest of all stakeholders, not to pursue the transaction in its current form. The board has stated its intention to revisit the scheme following the successful delivery of respective companies' FY28 guidance. The communication to the exchanges was signed by Trisha A, Compliance Officer and Company Secretary (Membership Number: A47635), on behalf of OneSource Specialty Pharma Limited.
Historical Stock Returns for Onesource Specialty Pharma
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.68% | +4.38% | +17.79% | +5.44% | +10.37% | +6.43% |
What specific FY28 financial milestones must OneSource Specialty Pharma and the transferor entities achieve before the board considers reviving the merger scheme?
How might the indefinite postponement of the SteriScience acquisition affect OneSource's competitive positioning in the contract development and manufacturing (CDMO) space for sterile injectables?
Could the delay in integrating the Poland and Baroda facilities prompt SteriScience entities to explore alternative strategic partnerships or buyers in the interim period?
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