Bangalore-based Strides Arcolab is in talks with foreign companies and private equity investors to sell major part of its business. The company, with revenue of around Rs 2,000 crore, will retain its injectables business while selling all its other segments, both in India and abroad, at a deal size that would value the firm at Rs 5,200 crore. Other parts of the business comprising the pharma generics business include contract research and manufacturing services, and intellectual property-led formulations.
The firm’s injectables business earned revenue of close to Rs 800 crore for the 2010 calendar year, while its non-sterile business earned Rs 1,227.9 crore revenue in the same period.Further, the company will also explore selling its businesses overseas, including Australia, Africa and South-East Asia.
Strides Arcolab is a global pharmaceuticals headquartered in Bangalore, India that develops and manufactures a wide range of IP-led niche pharmaceuticals products with an emphasis on sterlite injectables.
