Hotline: 1800 102 2007
Hotline: 1800 102 2007
May, 09 2018

Drugmaker Strides Shasun to merge Australian unit with Apotex

The transaction is subject to entering into definitive agreements, satisfactory due diligence, customary closing conditions and statutory approvals, Strides Shasun said. It didn’t disclose the deal value.

Drugmaker Strides Shasun to merge Australian unit with Apotex

Drugmaker Strides Shasun Ltd has decided to merger Australian businesses with Apotex Inc, the company said in a stock-exchange disclosure.

The transaction is subject to entering into definitive agreements, satisfactory due diligence, customary closing conditions and statutory approvals, Strides Shasun said. It didn’t disclose the deal value.

The merged entity will become the leading player in the Australian generic pharmaceutical market by both volume and revenue, Strides Shasun said.

Strides Shasun, which operates in Australia under Arrow Pharmaceuticals, will have a controlling interest in the merged entity.

Founded in 1974, Apotex is a Canadian pharmaceutical company. Its Australian subsidiary is Apotex Pty Ltd.

Strides said the deal doesn’t include the hospital business of Apotex. After the merger, Strides and Apotex will be run independently under the brands Arrow and Apotex, respectively.

“Both companies are currently in a strong commercial position, but will be better positioned to meet the future challenges of the Australian pharmaceutical industry following the merger,” said Roger Millichamp, chief executive officer of Apotex Australia.

The merged entity will be led by Arrow’s Dennis Bastas as executive chairman. Millichamp will be its CEO. Strides Shasun has been an active deal maker in recent years.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Education Supplies
    About Us: Siddshree Publication is a privately held company, dedicated to..
    Locations looking for expansion Delhi
    Establishment year 2017
    Franchising Launch Date 2019
    Investment size Rs. 50 K - 2lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Fine Dine Restaurants
    About Us: We are India’s First Haunted House Theme Restaurant running..
    Locations looking for expansion Delhi
    Establishment year 2015
    Franchising Launch Date 2019
    Investment size Rs. 50lac - 1 Cr.
    Space required 4000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Quick Service Restaurants
    About Us: The inception of Crepster was made in the recesses..
    Locations looking for expansion Delhi
    Establishment year 2017
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Quick Service Restaurants
    About Us:  Inspired by Hong Kong's favorite street food the..
    Locations looking for expansion Maharashtra
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 250
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
Insta-Subscribe to
Entrepreneur
Magazine
sme-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities