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Strides Pharma gets controlling stake in Trinity
Strides Pharma Asia Pte Ltd., Singapore, a wholly-owned subsidiary of Strides Shasun Limited has entered into definitive agreements with Trinity Pharma Proprietary Limited, South Africa (Trinity) for acquisition of controlling stake in Trinity.
By
migrator
migrator
Bengaluru
Transaction Details: Under the terms of the agreement, Strides Pharma Asia Pte Ltd., Singapore will acquire 55% stake in Trinity for a cash consideration of South African Rand 55 Million (approximately Rs 27.5 cr). The current management will stay as minority partner and will continue to run the business under the supervision of Strides. The transaction is subject to customary closing conditions including approval from the South African regulatory authority, Transaction Regulation Panel and expected to close on or before January 5, 2018.
Shashank Sinha, Md, Strides Shasun Ltd said “This provides impetus to our ‘In Africa For Africa’ strategy as it fast tracks Strides presence in the lucrative and high entry barrier market of South Africa.”
STRATEGIC RATIONALE
- The transaction allows Strides to establish a presence in the high entry barrier market of South Africa where product dossier approval takes more than 5 years.
- Provides access to pipeline of more than 110 product dossiers already submitted.
- Acquisition comes with proven management and expertise in business development, marketing and regulatory services.
- Will be an important platform for Strides’ ARV launch in the large, private non-tender market in South Africa.
- Provides established distribution channel for faster commercialisation of existing products of Strides, already registered in South Africa.
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