Strides Pharma announced their Q4 results along with the FY20 financial results.According to the declaration to BSE company reported a strong performance in FY20 despite Ranitidine withdrawal from the US market.

The highlights of the performance as shared by the Company are as below

Commenting on the performance, Dr R Ananthanarayanan, CEO & MD, remarked, “The financial year 2020 has metall strategic and financial outcomes for Strides in spite of the unexpected US FDA direction to withdraw Ranitidine on the last day of FY20. While we have grown our revenues by 26% (33% Adjusted), our EBITDA has grown over two times, demonstrating over 740 basis point (1,070 basis point Adjusted) improvement in the margins.

We are also satisfied that the regulated markets continued its healthy track record and our US business met the upper end of our FY20 outlook, including the revenues from Ranitidine.We have entered into a new world order with Covid-19, the magnitude and scale of which remains indeterminate. We have maintained our agility and responsiveness to deal with this situation and are pursuing our commitment to 3Psviz- Patients, People and Purpose. We are determined to play a substantial role in society by bringing affordable andquality healthcare to millions of people around the globe. We strongly believe that our businesses will maintaintraction and would grow significantly to culminate into a healthy financial outcome for Strides in FY21.”