Strides Pharma Global, Singapore (SPG), a wholly owned step-down subsidiary of Strides Pharma Science, is acquiring a balance stake in Strides Pharma International AG (formerly Fairmed Healthcare AG) (Strides Switzerland), a step-down subsidiary of the Company for an aggregate consideration of ~CHF 1.01 million.
SPG currently owns 70% stake in Strides Switzerland. As part of business consolidation and to achieve operational synergy, SPG is acquiring the balance 30% stake in Strides Switzerland.
Strides Switzerland is strategically positioned to serve key markets in Europe. The acquisition marks a significant milestone in Strides’ expansion efforts, further strengthening its position in the region.
The business is led by Oren Weininger, who is the longstanding CEO of Strides Switzerland. Oren shall continue to lead the business in this region. His wealth of experience and expertise will drive the company’s continued success and growth in the European market.
Source: Business-Standard