A significant debt reduction, if achieved, over the next two years could play a vital role in improving valuation multiple with peers trading at over 1.5x price/sales. Solara Active Pharma Sciences (Solara) was incorporated in February 2017. The select API business of Strides Shasun and Human API business of SeQuent were demerged from their parent companies and merged to form Solara, which is operating as a Pure Play API manufacturing company. This brings Solara over three decades of experience in the API business.