Tuesday 8 March 2016

Strides Shasun jumps 5.4%; to acquire 3 brands from Moberg Pharma for USD 10 mn

The pharma company has entered into an agreement with Moberg Pharma, Sweden and its affiliates to acquire Jointflex, Fergon and Vanquish brands for a total consideration of $10 million plus inventory value at closing.

Medical supplies, pills and capsulesStrides Shasun jumped 5.4% to Rs.1,090 on BSE. The pharma company has entered into an agreement with  Moberg Pharma, Sweden and its affiliates to acquire Jointflex, Fergon and Vanquish brands for a total consideration of  $10 million plus inventory value at closing.

The stock hit a high of Rs.1136.90 and low of Rs.1040 on BSE today. The total traded quantity was 0.99 lakh shares and two-week average quantity is 0.12 lakh.

The counter has seen trades of around 798-odd shares as against the two-week daily average volume of around 0.83 shares on the BSE. 

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