Strides Arcolab and Sun Pharmaceutical Industries have entered into a definitive agreement related to erstwhile Ranbaxy’s ‘Solus’ and ‘Solus Care’ divisions operating in the central nervous system (CNS) segment in India. The agreement involves transfer of these two marketing divisions, along with employees to Strides for a consideration of Rs 165 crore.
As per IMS July 2015 MAT report, all the products of these two divisions together accounted for approximately Rs 92 crore in sales. During the divestment process, Sun Pharma was cognizant that the interests of its employees working in Solus and Solus Care divisions were not compromised.
The transaction is subject to approval from the Competition Commission of India and other customary closing conditions.
