Strides Shasun acquires Perrigos API facility for Rs. 100 cr
The Dollar Business Bureau Indian pharmaceutical company, Strides Shasun Ltd, has acquired Perrigo's active pharmaceutical ingredients (APIs) manufacturing facility, based in Ambernath city of Maharashtra for Rs.100 crore. “The company has inked a definitive agreement to acquire the complete shareholding in Perrigo API India Pvt Ltd for Rs.100 crores,” Strides Shasun said in a press release. The deal is likely to be completed by December 31, 2016, it said. Commenting on the deal, Shashank Sinha, Group CEO, Strides Shasun, said, “This acquisition will bring a manufacturing facility into the company’s fold which is designed to manage multi-purpose small batch productions and speed up our time to the market.” “This goes well with the Strides' strategy of creating a backward integrated portfolio of small volume and niche ...
Strides Shasun to divest its UK arm for Rs.240 cr
The Dollar Business Bureau Pharma firm Strides Shasun Ltd has taken a decision to divest its UK-based subsidiary Shasun Pharma Solutions Ltd (SPSL) to its current management for a value of £25 million (about Rs.240 crore). The company in a statement filed to BSE said, “The board of directors in a meeting on Tuesday cleared the divestment of SPSL, UK, to its current management team with investment by the Strides Shasun’s promoter group for an enterprise value of £25 million.” In 2006, Shasun had bought SPSL from Rhodia Pharma Solutions, a leading player in the domain of Contract Research Manufacturing Services (CRAMS). Since 2014, SPSL’s current management has shifted its focus from being a core CRAMS player to multiple industry domains including services, ...
Strides Shasun gets DCGI approval to manufacture Hepatitis C drug
The Dollar Business Bureau The drug will be marketed under the brand name ‘Virso’ in India and overseas Bangalore-based Strides Shasun Ltd. on Monday announced that it has received DCGI (Drug Controller General of India) nod for manufacturing generic version of Sofosbuvir 400mg drug. The drug major entered into a licensing agreement with Gilead Sciences – a US-based biopharmaceutical company - to bring Hepatitis C cure to 91 developing countries. The product will be marketed under the brand name ‘Virso’ in India and overseas. “The high potency, high barrier to resistance, pan genotypic activity, one-daily dosage, good safety profile and the limited drug-drug interaction of Sofosbuvir make it a breakthrough drug in Hepatitis C treatment,” Strides Shasun said in a statement. ...
