Strides Shashun’s arm Arrow Pharmaceuticals has acquired the Australian operations of Amneal Pharmaceuticals. The acquisition would accelerate Arrow’s market reach and will help in attaining a leadership position in the Australian generics market. Arrow Pharmaceuticals, Australia is a subsidiary of Strides Pharma Global, Singapore, which in-turn is a wholly owned subsidiary of Strides Shashun.
Under the terms of the agreement, Arrow Pharmaceuticals will acquire 100% of the issued capital of Amneal Pharmaceutical, Australia. Arrow will incur an amount of AUD 17 million towards consideration, working capital and other estimated acquisition and integration related costs. The definitive agreement was entered into on August 31, 2017 and is effective immediately.
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 semi-solids.
