Generic drugs maker Strides Arcolab Ltd has informally offered to buy the remaining 43 per cent stake in its Australian venture, Ascent Pharmahealth Ltd. The final outcome is expected to be known in the next 90 days.
Ascent, now listed on the Australian Stock Exchange, would be de-listed. The Australian company has been valued at $100 million. For the 43 per cent share it plans to buy, Strides would make a cash offer of Australian $35 million (nearly Rs 145 crore at current exchange rates), proposing to buy the stake at a premium rate of $0.35 per share.
The Bangalore-based company plans to include Ascent's founder-CEO, Mr Dennis Bastas, as an equity participant in its formal offer and also retain the executive management team. The money for the acquisition would come both from company resources and debt.
The attraction in Ascent apparently lies in its large complementary generic medicine chest, besides prescribed and freely sold (OTC) skin care products. It is the fourth largest non-patent drug maker in that country. The plan, if it came through, would make Strides the largest Indian company there. Early this month, Strides bought back its Brazilian facility for $75 million from Aspen Pharmacare of South Africa.
crackcrack| Company Name | CMP |
|---|---|
| Sun Pharma Inds. | 1675.20 |
| Dr. Reddys Lab | 1235.40 |
| Cipla | 1238.30 |
| Zydus Lifesciences | 942.55 |
| Lupin | 2324.25 |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: