Shilpa Medicare Limited has informed the Exchange regarding a press release dated February 24, 2026, titled "Press Release".
SHILPAMED · price
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Shilpa Biologicals Pvt Ltd (SBPL), a material subsidiary of Shilpa Medicare, has signed a licensing agreement with SteinCares, a Costa Rica-based specialty healthcare company. Under the deal, SteinCares will hold exclusive rights to register, commercialize, and distribute a biosimilar across Latin America, while SBPL will handle product development and long-term commercial manufacturing from its Dharwad facility in Karnataka. This marks Shilpa Biologicals' first entry into the Latin American market and the first product from this strategic partnership. SteinCares brings over 45 years of regional experience and a presence in more than 30 countries across Latin America and the Caribbean.
Positive for long-term growth as the deal opens a new geographic market (Latin America) and leverages a partner with established regional infrastructure. Near-term financial impact is limited since this is an early-stage licensing arrangement, but it signals international expansion of Shilpa's biosimilars portfolio.