Jordan-based investment firm GMS Holdings has acquired 25.1% stake in Strides Arcolab’s biotech arm Stelis Biopharma for Rs 135 crore. The fund infusion will be used for Stelis’ green-field project. Further, as per the agreement, Strides and GMS will invest Rs 371.4 crore totalling the equity investment in Stelis to Rs 472 crore.
Recently, Strides Arcolab approved merger with Shasun Pharmaceuticals. The combination creates a vertically integrated pharma company of scale with strong presence in Front-ended Regulated Markets Finished Dosages, Emerging Markets Branded Generics, Institutional Business, Active Pharmaceutical Ingredients and Contract Research and Manufacturing Services. Shashun shareholders will receive five equity shares of Strides for every sixteen equity shares held by them in Shasun.
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.
| Company Name | CMP |
|---|---|
| Sun Pharma Inds. | 1675.20 |
| Dr. Reddys Lab | 1235.40 |
| Cipla | 1238.30 |
| Zydus Lifesciences | 942.55 |
| Lupin | 2324.25 |
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