Strides Arcolab, the Indian drug maker is likely to sell its Australian branded-generics unit, Ascent Pharmahealth. The company is also considering the divestment of other businesses such as softgel and anti-retro viral drug manufacturing, as the drug maker wants to focus on specialty injectables. US investment bank Jefferies and Co is advising Strides Arcolab for the divestments.
Ascent Pharmahealth is one of the largest branded generic drugmakers in Australia, with 13% market share. It also has a significant presence in Singapore, Thailand and Vietnam. In 2010, the business had sales of $140 million.
Strides Arcolab is a global pharmaceuticals headquartered in Bangalore, India that develops and manufactures a wide range of IP-led niche pharmaceuticals products with an emphasis on sterlite injectables.
