Strides Sha­sun ac­quires Am­neal Pharma op­er­a­tions

BioSpectrum (India) - - FINANCE NEWS -

Drug firm Strides Sha­sun’s arm Ar­row Phar­ma­ceu­ti­cals has ac­quired Aus­tralian op­er­a­tions of Am­neal Phar­ma­ceu­ti­cals for a to­tal con­sid­er­a­tion of Aus­tralian dol­lar (AUD) 17 mil­lion (over Rs 85 crore). The ac­qui­si­tion would ac­cel­er­ate Ar­row’s mar­ket reach and will help in at­tain­ing a lead­er­ship po­si­tion in the Aus­tralian gener­ics mar­ket. Un­der the terms of the agree­ment, Ar­row Phar­ma­ceu­ti­cals will ac­quire

100 per cent of the is­sued cap­i­tal of Am­neal Phar­ma­ceu­ti­cal Australia. Ar­row will in­cur an amount of AUD 17 mil­lion to­wards con­sid­er­a­tion, work­ing cap­i­tal and other es­ti­mated ac­qui­si­tion and in­te­gra­tion re­lated costs. Bring­ing Am­neal’s cus­tomer base into the net­work of sup­port­ing phar­ma­cies fur­ther ac­cel­er­ates the cur­rent growth and strength­ens the of­fer­ing the com­pany bring to all its cus­tomers.

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