NEW DELHI: Drug firm Strides Shasun today said it has completed the acquisition of a controlling stake in Australia-based Generic Partners Holdings.
“We refer to our press release dated February 08, 2016 on ‘acquisition of a strategic stake in Generic Partners Holdings, Australia’. We now wish to inform you that the above transaction has achieved closure,” Strides Shasun said in a regulatory filing.
In February this year, the Bengaluru-based firm had inked a pact to acquire 51 percent stake in Australia’s Generic Partners Holdings Co for AUD 15 million and a commitment of AUD 10 million to fund future R&D.
“The acquisition provides Shasun immediate access to 47 commercialised marketing authorisations. It also provides access to 22 registrations pending approval with Therapeutic Goods Administration (TGA) and a strong pipeline of 32 molecules including a host of drugs going off patent in future,” it said.
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Source: Economic Times