Strides Pharma Science and its step down subsidiary -- Strides Pharma Global Pte., Singapore have received approval to convert their 50:50 Joint Ventures (JVs) with Vivimed to 100% ownership. Consequently, Strides will acquire balance 50% stake in Vivimed Life Sciences, India and its step down subsidiary, Strides Pharma Global Pte, Singapore will acquire the balance 50% stake in Strides Vivimed Pte, Singapore to own and operate the erstwhile joint venture companies fully.
Strides to acquire the remaining 50% stake in the JVCs for an aggregate consideration of Rs 75 crore which retains the entry valuation of Rs 150 crore for the JVCs. The Board of Directors of the Company has approved the same.
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.
| Company Name | CMP |
|---|---|
| Sun Pharma Inds. | 1675.20 |
| Dr. Reddys Lab | 1235.40 |
| Cipla | 1238.30 |
| Zydus Lifesciences | 942.55 |
| Lupin | 2324.25 |
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