Pharmaceuticals firm Strides Arcolab reportedly said deal with Aspen Pharmacare to buy latter's Australia assets will help the Indian drug company rebuild its business.
Pharmaceuticals firm Strides Arcolab reportedly said deal with Aspen Pharmacare to buy latter's Australia assets will help the Indian drug company rebuild its business.
Report says that the company will also get a product pipeline under development by Aspen.
Earlier, Strides Arcolab entered into a deal with Aspen Pharmacare to acquire Aspen's generic pharmaceutical business and related assets in Australia for 380 mn Australian dollars.
The business, which will operate under the Arrow Pharmaceuticals brand, will sell approximately 140 generic prescription drugs and an extensive range of non-prescription pharmacy products. The business and the assets being acquired will give Strides group one of the largest pharmaceutical product portfolios in the Australian market.
Strides’ previous business in the Australian generic pharmaceutical market, Ascent Pharmahealth Ltd, was sold to Actavis in January 2012 after a successful 5-year investment and growth strategy. The new Arrow Pharmaceuticals business will be led by Dennis Bastas, the previous founder and CEO of Ascent Pharmahealth Ltd.
No comments:
Post a Comment