Pfizer Inc is reportedly mulling to buy Strides Arcolab’s medicines unit, Agila Specialties, for a possible price of $2 billion or Rs 10,886.31 crore. Further, towards this development, Pfizer is currently conducting due diligence and a deal could be reached this quarter.
Strides Arcolab, a supplier of cancer-fighting drugs to Pfizer Inc, has been considering selling its injectable medicines unit since August, 2012. Meanwhile, Agila uptill now has also drawn interest from Canonsburg, Pennsylvania-based Mylan Inc., Swiss drugmaker Novartis AG (NOVN), and Fresenius SE, which is based in Bad Homburg, Germany. Basically, Agila’s relative success in winning approvals for new products and the scarcity of facilities that manufacture injectable medicines made it an attractive target for drug makers.
Strides Arcolab is a global pharmaceutical company headquartered in Bangalore, India that develops and manufactures wide range of IP-lead niche pharmaceutical products with an emphasis on sterile injectables.
Company Name | CMP |
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Sun Pharma Inds. | 1568.85 |
Dr. Reddys Lab | 6536.00 |
Cipla | 1509.40 |
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