Strides Shasun has received an approval for hiving off its active pharmaceuticals ingredients (API) business into a wholly-owned subsidiary. The company’s board has given an in-principle approval to hive-off the API business into a wholly-owned subsidiary, subject to finalizing modalities of the transfer.
The API division had a turnover of Rs 712.2 crore in 2015-16. For the fiscal 2015-16, the company had consolidated net sales of Rs 3,014.33 crore with a net profit of Rs 208.92 crore.
Strides Shasun (formerly known as 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.
