Shilpa Medicare , a leading pharmaceutical company, has announced two significant developments: its subsidiary's sustainability achievement and positive clinical trial results for a new drug.

EcoVadis Gold Medal for Sustainability Excellence

Shilpa Medicare's material subsidiary, Shilpa Pharma Life Sciences Limited, has been awarded the prestigious Gold Medal by EcoVadis, the world's most trusted provider of business sustainability ratings, for its excellence in sustainability practices.

Outstanding Performance in Sustainability

Shilpa Pharma Life Sciences demonstrated exceptional performance in EcoVadis' comprehensive assessment, scoring an impressive 82 out of 100. This remarkable score places the company in the 98th percentile globally among over 130,000 companies evaluated by EcoVadis.

Key Assessment Areas

EcoVadis' evaluation focused on four crucial pillars of sustainability:

Strategic Implications

Mr. Keshav Bhutada, ED & CEO of Shilpa Pharma Life Sciences, emphasized the strategic importance of this recognition, stating, "Sustainability and innovation are integral to Shilpa's CDMO growth strategy to work with global innovator companies for their New Chemical Entity programs."

The EcoVadis Gold Medal significantly enhances Shilpa's credentials in the global pharmaceutical landscape:

1. Trusted CDMO Partner: Strengthens Shilpa's position as a reliable Contract Development and Manufacturing Organization (CDMO) partner for global innovator companies.
2. Investor Confidence: Boosts investor confidence by demonstrating the company's commitment to sustainable and ethical business practices.
3. Competitive Edge: Provides a competitive advantage in the pharmaceutical industry, where sustainability is becoming increasingly important.

Positive Phase 3 Results for Oeris™ Drug

In a separate development, Shilpa Medicare has announced positive Phase 3 clinical trial results for its drug Oeris™. The treatment showed promising outcomes:

• 89% complete response rate for Oeris™
• 82% complete response rate for standard treatment
• No serious side effects observed during the trial

Based on these encouraging results, Shilpa Medicare plans to submit Oeris™ for regulatory approval.

Long-term Commitment to Sustainability and Innovation

These achievements underscore Shilpa Medicare's long-term commitment to building a responsible, resilient, and sustainable pharmaceutical enterprise. The company's focus on sustainability, innovation, and drug development positions it well for future growth and partnerships with global innovator companies.

As the pharmaceutical industry continues to evolve, Shilpa Medicare's dual success in sustainability and drug development not only celebrates the company's current achievements but also sets a high standard for its future endeavors in the realm of sustainable pharmaceutical development, manufacturing, and innovation.

Shilpa Medicare Limited , a prominent player in the Indian pharmaceutical sector, has announced a strategic move in its investment portfolio. The company has entered into an agreement to sell a substantial portion of its stake in Sravathi Advance Process Technologies Private Limited (Sravathi), a joint venture specializing in advanced differentiated process technologies and research and development.

Key Details of the Transaction

Post-Transaction Shareholding Structure

The divestment will result in a significant reshuffling of Sravathi's ownership structure. The new shareholding pattern after the transaction is expected to be as follows:

Strategic Implications

This move appears to be part of Shilpa Medicare's strategy to bring in strategic and financial partners to strengthen Sravathi's business operations. The introduction of new stakeholders could potentially infuse fresh perspectives and resources into Sravathi's operations.

Governance Changes

As part of the agreement, both Ash Ingredients Inc. and Varcatalyst LLP will gain representation on Sravathi's board of directors. Each company will have the right to appoint one director, potentially bringing new expertise and strategic direction to the joint venture.

Regulatory Compliance

Shilpa Medicare has informed the stock exchanges about this transaction, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has clarified that this transaction does not fall under related party transactions and that the parties involved are not related to the promoter or promoter group.

Closing Remarks

The transaction is subject to customary closing conditions and is expected to supersede the previous Joint Venture agreement between Shilpa, Technocrats, and Sravathi dated June 7, 2019. This strategic move by Shilpa Medicare could have implications for its future growth trajectory and its position in the advanced process technologies sector.