Strides Arcolab intends to invest $20 million in Biotech business from the amount to be received from Mylan. The company has agreed to receive an amount of $150 million from Mylan Inc., USA as the full and final settlement against the Contingent Holdback of up to $250 million. After investments and providing for taxes the balance will be available for distribution to shareholders subject to the approval of board of directors.
Strides Arcolab is a global pharmaceutical company headquartered in Bangalore, India that develops and manufactures wide range of IP-lead niche pharmaceutical products with an emphasis on sterile injectables.
