3822 Investors following Strides Arcolab. Share this News with them.
0
Like this story, share it with millions of investors on M3
Strides Arcolab may sell Australian unit
Indian drugmaker Strides Arcolab Ltd is considering the sale of its Australian branded-generics unit, Ascent Pharmahealth, the Times of India reported on Monday.
Indian drugmaker Strides Arcolab Ltdis considering the sale of its Australian branded-generics unit, Ascent Pharmahealth, the Times of India reported on Monday.
U.S. investment bank Jefferies and Co is advising Strides Arcolab on a divestment plan that may also include other businesses such as softgel and anti-retro viral drug manufacturing, as the drugmaker wants to focus on specialty injectables, the report said, citing sources.
Strides Arcolab declined to comment.
Ascent Pharmahealth is one of the largest branded generic drugmakers in Australia, with 13 percent market share. It also has a significant presence in Singapore, Thailand and Vietnam.
The business had sales of $140 million in 2010, the report said.
