Strides Shasun has got approval for divestment of its 100% shareholding in subsidiary company -- Strides Chemicals (formerly Perrigo API India) to Solara Active Pharma Sciences. The divestment will help Strides become leaner, while retaining supply chain security for the formulations portfolio.
The company will divest 100% of the issued capital in Strides Chemicals to Solara for a cash consideration of Rs 131 core. The Board of Directors of the company at their meeting held on April 24, 2018, approved the same.
Strides Shasun is a vertically integrated global pharmaceutical Company headquartered in Bangalore. The company has 74 cumulative ANDA filings with USFDA of which 45 ANDAs have been approved as of date and 29 are pending approval.
