Drug firm Strides Shasun has completed the acquisition of three brands of Sweden-based Moberg Pharma.
The Strides Shasun stock has shed nearly 25 per cent so far this month as analysts have cut estimates to account for higher interest, depreciation costs, and execution challenges from its recent acquisitions, and equity dilution.
Drug firm Strides Shasun has acquired controlling stakes in Kenya's Universal Corporation and Australia-based Generic Partners Holdings in a bid to strengthen its business in these regions.
Some drugmakers are expanding production in Africa to take advantage of a growing number of countries where rising incomes and national healthcare can pay for new meds. But there is still plenty of unmet need and not all projects are going to draw private investment. Now, through a number of sources of financing, a new plant will be built to manufacture yellow fever vaccine, a protection that has been in short supply.
Indian drugmaker Strides Shasun has bolstered its generics manufacturing network by acquiring stakes in Kenya’s Universal Corporation and Australia’s Generic Partners Holdings.
On February 5, 2016, the World Health Organization (WHO) made available the Public Inspection Report (PIR) for Strides Shasun Ltd’s (Strides) Formulation II facility in Puducherry, India. According to the PIR, the inspection focused on Good Manufacturing Practices (GMPs) and resulted in the company remaining in continued compliance for the next three (3) years pending any additional inspections during this time period. This facility was acquired by Strides through its acquisition of Shasun Pharmaceuticals Limited (Shasun) after the company sold certain sterile facilities to Mylan.
The agreement involved transfer of these two marketing divisions, along with employees to Strides, for Rs 165 crore
Sun Pharmaceutical Industries Ltd has now informed BSE that the Company has, on January 21, 2016 received order under the Competition Act, 2002 from the Competition Commission of India (CCI) approving the proposed transaction.
Strides Shasun has received Competition Commission of India (CCI) approval to acquire seven brands from consumer healthcare firm Johnson and Johnson (J&J).
Strides Shasun today got CCI's approval to acquire Sun Pharmaceutical's two business divisions in India for Rs 165 crore.