Strides Arcolab is currently trading at Rs 1066.35, up by 13.00 points or 1.23% from its previous closing of Rs 1053.35 on the BSE.
The scrip opened at Rs 1065.25 and has touched a high and low of Rs 1095.00 and Rs 1050.70 respectively. So far 269728 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 1224.90 on 05-Dec-2012 and a 52 week low of Rs 377.05 on 19-Jan-2012.
Last one week high and low of the scrip stood at Rs 1094.80 and Rs. 1003.10 respectively. The current market cap of the company is Rs 6276.71 crore
The promoters holding in the company stood at 27.51% while Institutions and Non-Institutions held 49.31% and 23.18% respectively.
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.
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