Shasun Pharmaceuticals is seeking shareholders’ nod for its proposed merger with Bangalore-based drug firm Strides Arcolab. As part of the deal, Shasun will amalgamate with Strides in an all-stock transaction. Shashun shareholders will receive 5 equity shares of Strides for every 16 shares held by them in Shasun.
The combined entity would significantly enhance finished dosages portfolio in niche and complex domains with a pipeline of over 100 products and accelerates product filings with a combined R&D strength of over 400 personnel.
Last year, both the entities announced plans to merge, a move that will create an entity among the top 15 listed domestic drug makers with a turnover of over Rs 2,500 crore.
Shasun Pharmaceuticals manufactures active pharmaceutical ingredients (APIs), their intermediates and enteric coating excipients with a significant presence in some key generics. Shasun has created a strong product portfolio, building on its R&D Expertise, regulatory capabilities and multi scale production capacities. It is one of the largest producers of Ibuprofen worldwide.
