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Strides to receive $42 million immediately from General Claims Escrow

19 Dec 2018 Evaluate

Strides Pharma Science is going to receive $42 million towards full and final release of the General Claims Escrow immediately. The company and its wholly owned subsidiary, Strides Pharma Asia Pte completed the sale to Mylan Laboratories and Mylan Institutional Inc of Agila Specialties and Agila Specialties Global Pte respectively, pursuant to Sale and Purchase Agreements effective as of February 27, 2013 (SPAs) on December 04, 2013.

Mylan made claims against the General Claims Escrow which included a third-party claim that was subject to resolution under international arbitration. The claims in that arbitration were rejected in their entirety. Hence, Strides will receive around $42 million towards full and final release of the General Claims Escrow immediately.

Strides Pharma Science (Formerly Strides Shasun) is a pharmaceutical company with a major focus on development and manufacture of IP-led niche finished dosage formulations. It is also among the world’s largest manufacturers of soft gelatin capsules.


Strides Pharma Scien Share Price

1144.45 45.70 (4.16%)
07-May-2026 16:01 View Price Chart
Peers
Company Name CMP
Sun Pharma Inds. 1831.30
Dr. Reddys Lab 1307.00
Cipla 1361.00
Zydus Lifesciences 940.10
Lupin 2460.50
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