Shasun Pharma And Strides Arcolab To Merge Next Year

Strides Arcolab Ltd and Shasun Pharmaceuticals have announced their merger. As per the merger deal, Shasun “will be amalgamated with and into Strides. Shasun shareholders will receive five (equity) shares of Strides for every 16 shares held by them in Shasun.”

Shasun shareholders will own 26% of the combined entity, and will set up a vertically integrated pharma company with multiple revenue streams.

Strides Arcolab, which also made a filing to the Bombay Stock Exchange, said a scheme of amalgamation between the two companies has got the nod of the board of directors of both companies.

“The combination creates a vertically-integrated pharma company of scale with strong presence in front-ended regulated markets finished dosages, emerging markets branded generics, institutional business, active pharmaceutical ingredients and contract research and manufacturing services,” the press release of Strides said. The merger is likely to materialise by June next year.