Apotex and Strides to merge Australia units
Apotex and Strides Shasun have agreed in principle to merge their Australian businesses under a new entity, in a deal that will allow the combined company to become “the leading player in the Australian generic pharmaceutical market by both volume and revenue”. Strides will have a “controlling interest in the merged entity”, with the share-swap transaction subject to a final definitive agreement between the firms, as well as due diligence and regulatory approvals including from the Australian Competition and Consumer Commission (ACCC).
You may also be interested in...
Following the formation of Australia’s Arrotex through the merger of Apotex Australia and former Strides unit Arrow Pharmaceuticals, CEO Dennis Bastas sets out the firm’s priorities as a central player in the Australian market, as well as longer-term plans including potential future deals and reaching beyond Australia and into south-east Asia, in an exclusive interview with Generics Bulletin.
Arrotex Australia Group has been formed in Australia following the completion of the merger between Strides’ Arrow and Apotex’ local unit.
Strides Pharma Science has agreed to sell its entire Australian business, including its local Arrow unit, to the Arrow-Apotex merged entity known as ‘Arrotex’, as the firm concentrates its efforts in the US and Canada.