Strides Shasun acquires Amneal Pharma operations
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.