Strides Pharma Science receives requisite approvals to exit investment in Arrow
1st Jul 2019

Strides Pharma Science has received all requisite approvals for the transaction to exit its investment in Arrow for AUD 394 million, and Strides Pharma Global Pte (SPG), a step-down subsidiary of the Company in Singapore, has signed the definitive agreements for the same.

The company expects the transaction to close on or around July 10, 2019. SPG will receive AUD 300 million immediately at closing and balance AUD 94 million will be received as deferred consideration backed by a secured interest-bearing instrument.

Strides Pharma Science (Formerly Strides Shasun) is a pharmaceutical company with a major focus on development and manufacture of IP-led niche finished dosage formulations. It is also among the world’s largest manufacturers of soft gelatin capsules.