• New partnership combines Shilpa Biologicals' development and manufacturing capabilities with SteinCares' regional commercialization platform
• Collaboration aims to expand patient access to cost-effective treatments and reinforces SteinCares' leadership in biosimilars across Latin America
• Agreement marks the first product from this strategic partnership and Shilpa Biologicals' entry into the Latin American market

SAN JOSE, Costa Rica and RAICHUR, India, Feb. 25, 2026 -- SteinCares, a leading specialty healthcare company in Latin America, and Shilpa Biologicals Pvt. Ltd. (SBPL), a fully integrated biopharmaceutical subsidiary of Shilpa Medicare Limited (BSE: 530549) (NSE: SHILPAMED), announce a strategic licensing agreement to commercialize a biosimilar across Latin America.

Under the agreement, SteinCares will hold exclusive rights to register, commercialize, and distribute biosimilar across the region while SBPL will complete product development and commercial manufacturing from its facility in Dharwad, India. The partnership brings together SBPL's expertise in biologics development and high-quality commercial manufacturing with SteinCares' integrated regional platform.

"We are excited to partner with Shilpa Biologicals to bring this biosimilar to Latin America," said Mitchell Waserstein, CEO, SteinCares. "This agreement reinforces our leadership in biosimilars and our role as a strategic partner for global biopharmaceutical companies seeking to enter Latin America's complex healthcare markets. By combining Shilpa's proven capabilities in biologics development and manufacturing with our integrated regional platform and deep market expertise, we are creating scalable healthcare opportunities and expanding access to innovative, cost-effective treatments across the region."

"SteinCares is a trusted partner in Latin America with proven expertise in the registration and commercialization of specialty therapies," said Dr. Sridevi Khambhampaty, CEO, Shilpa Biologicals. "Through this licensing agreement, we are entering Latin America and aim to broaden patient access to safe treatments across the region. We believe this collaboration will create meaningful value for patients, healthcare systems, and our organizations as we expand our biosimilars footprint in Latin America. This collaboration reinforces our commitment to scalable, long-term global licensing partnerships and creates a strong platform for future collaborations across key international markets and our growing biosimilars portfolio."

About SteinCares

SteinCares expands access to innovative treatments across 30 Latin American countries. With 45+ years' experience, it offers an integrated one-stop-shop platform pioneering biosimilar therapies.

About Shilpa Biologicals

Shilpa Biologicals is an integrated biopharmaceutical company with a hybrid CDMO model. It offers development, manufacturing, and ready-to-license formulations in immunology, oncology, and ophthalmics.