Strides Shasun has acquired controlling stake in Trinity Pharma, South Africa. The company’s wholly owned subsidiary Strides Pharma Asia, Singapore entered into definitive agreements with Trinity Pharma Proprietary, South Africa for acquisition of controlling stake in Trinity on December 20, 2017.
Under the terms of the agreement, Strides Pharma Asia has acquired 55% stake in Trinity for a cash consideration of South African Rand 55 Million.
The current management will stay as minority partner and will continue to run the business under the supervision of Strides. The transaction allows Strides to establish a presence in the high entry barrier market of South Africa where product dossier approval takes more than 5 years. The transaction will also provides access to pipeline of more than 110 product dossiers already submitted. Moreover, the transaction will provide established distribution channel for faster commercialization of existing products of Strides, already registered in South Africa.
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.
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