Strides Shasun has completed the acquisition of strategic stake in Generic Partners Holdings, Australia and the above transaction has achieved closure. In February, the company had signed definitive agreements to acquire a strategic stake in Generic Partners Holdings, an Australian pharmaceutical supply and research company. Under the terms of the agreement, Strides Shasun will hold 51% of the issued capital of Generic Partners and the remaining equity will continue to be held by the current promoters. This was an all cash deal for an upfront consideration of AUD 15 Million and a commitment of AUD 10 Million to fund future R&D.
The acquisition provides Strides Shasun immediate access to 47 commercialized marketing authorizations making Arrow Pharmaceuticals, a wholly owned subsidiary of the company, the second largest generic pharmaceutical products company in Australia with a portfolio of over 180 molecules.
Strides Shasun (formerly known as Strides Arcolab) is a global pharmaceutical company headquartered in Bangalore, India that develops and manufactures wide range of IP-lead niche pharmaceutical products with an emphasis on sterile injectables.