Strides Pharma Science achieves final closure of Arrow transaction
10th Jul 2019

Strides Pharma Science has achieved final closure for the transaction to exit its investment in Arrow for AUD 394 million. The company’s step-down subsidiary -- Strides Pharma Global Pte (SPG) has received AUD 300 million immediately at closing, while the balance AUD 94 million will be a deferred consideration backed by a secured interest-bearing instrument. All proceeds net of transaction cost will be used to pare down debt. 

Strides shall retain global access to IP’s of over 140 products and has concurrently entered into a preferred supply agreement with Arrow and Apotex as the major supplier which will enable Strides to retain profits equivalent to 40%-50% of current Arrow EBITDA.

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.