Strides Shasun finishes obtaining of Generic Partners


NEW DELHI: Drug firm Strides Shasun today said it has finished obtaining of a controlling stake in Australia-based Generic Partners Holdings. 

"We allude to our public statement dated February 08, 2016 on 'securing of key stake in Generic Partners Holdings, Australia'. We now wish to illuminate you that the above exchange has accomplished conclusion," Strides Shasun said in an administrative recording. 

In February this year, the Bengaluru-based firm had inked an agreement to obtain 51 for each penny stake in Australia's Generic Partners Holdings Co for AUD 15 million and a guarantee of AUD 10 million to reserve future R&D. 

"The procurement gives Shasun prompt access to 47 popularized advertising authorisations. It additionally gives access to 22 enlistments pending endorsement with Therapeutic Goods Administration (TGA) and solid pipeline of 32 atoms including host of medications going off patent in future," it said. 

Shares of Strides Shasun were exchanging 1.46 for every penny down at Rs 1,094.95 each on the BSE.

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