Strides Shasun has signed definitive agreements to acquire the entire shareholding in Perrigo API India for Rs 100 crore. The transaction is subject to customary closing conditions and expected to be closed by December 31, 2016. With this acquisition, the company bring into its fold a US FDA approved API facility designed to handle multipurpose small batch productions. Meanwhile, Perrigo parent or affiliates will continue to source few products from the facility under a long term supply agreement.
Strides Shasun (formerly known as Strides Arcolab) is engaged in manufacturing, sale and export of pharmaceutical products. It offers general tablets, hard gelatin and soft gelatin capsules, sachets, potent drugs and and semi-solids.
