Bangalore-based Strides Arcolab is set to buy drug maker, Shasun Pharmaceuticals in an all-stock transaction valued at about Rs.1, 200 crore ($221 million)..Amarchand Mangaldas and DSK Legal acted for both Strides Arcolab and Shasun Pharmaceuticals..The Amarchand team was led by Managing Partner Cyril Shroff along with Bangalore Partners Nivedita Rao and Arjun Lall..The DSK Legal team was led by Partner Raksha Kothari along with Vikrant Singh Negi, Gaurav Mistry, Shamayeeta Bhattacharyya and Aakriti Dubey..Shasun stockholders will receive 5 shares of Strides Arcolab for every 16 they hold, giving Shasun shareholders a 26% stake in the merged entity, as per the agreement..The combination of Strides and Shasun will create a company with a presence in branded generic drugs and ingredients with sales of Rs.2,500 crore, placing the combined entity among the country’s top 15 drug makers, reports Mint..In July this year Strides Arcolab had acquired the Indian branded generic business of Bafna Pharmaceuticals.
Bangalore-based Strides Arcolab is set to buy drug maker, Shasun Pharmaceuticals in an all-stock transaction valued at about Rs.1, 200 crore ($221 million)..Amarchand Mangaldas and DSK Legal acted for both Strides Arcolab and Shasun Pharmaceuticals..The Amarchand team was led by Managing Partner Cyril Shroff along with Bangalore Partners Nivedita Rao and Arjun Lall..The DSK Legal team was led by Partner Raksha Kothari along with Vikrant Singh Negi, Gaurav Mistry, Shamayeeta Bhattacharyya and Aakriti Dubey..Shasun stockholders will receive 5 shares of Strides Arcolab for every 16 they hold, giving Shasun shareholders a 26% stake in the merged entity, as per the agreement..The combination of Strides and Shasun will create a company with a presence in branded generic drugs and ingredients with sales of Rs.2,500 crore, placing the combined entity among the country’s top 15 drug makers, reports Mint..In July this year Strides Arcolab had acquired the Indian branded generic business of Bafna Pharmaceuticals.
