Strides Shasun’s subsidiary acquires Australian operations of Amneal Pharma

In order to accelerate Arrow Pharmaceutical’s market reach and attain a leadership position in the Australian generics market, the company has acquired the operations of Amneal Pharmaceuticals.
 
Under the terms of the agreement, Arrow will acquire 100% of the issued capital of Amneal. The company will incur an amount of AUD 17 million (approximately Rs 86.41 crore) towards consideration, working capital, and other estimated acquisition and integration related costs. In line with the strategic intent, Arrow has expanded its product portfolio over the last two years from 150 molecules to 170 molecules.   
 
This acquisition further bolsters its product portfolio with the addition of 13 molecules to the Arrow range, stated the company. The acquisition also provides for significant synergy opportunities with 100+ molecules being common with the Arrow portfolio. Post successful integration, all the molecules will be unified under the Arrow brand, the company said.