Strides Shasun Completes Acquisition Of Australia's Generic Partners

New Delhi: Drug firm Strides Shasun on Wednesday said it has completed acquisition of a controlling stake in Australia-based Generic Partners Holdings.

"We refer to our press release dated February 08, 2016 on 'acquisition of strategic stake in Generic Partners Holdings, Australia'. We now wish to inform you that the above transaction has achieved closure," Strides Shasun said in a regulatory filing.

In February this year, the Bengaluru-based firm had inked a pact to acquire 51 per cent stake in Australia's Generic Partners Holdings Co for 15 million Australian dollars and a commitment of 10 million Australian dollars to fund future R&D.

"The acquisition provides Shasun immediate access to 47 commercialised marketing authorisations. It also provides access to 22 registrations pending approval with Therapeutic Goods Administration (TGA) and strong pipeline of 32 molecules including host of drugs going off patent in future," it said.

Shares in Strides Shasun, on Wednesday, ended 4.69 per cent lower at Rs 1,059.05 apiece on the BSE, whose benchmark Sensex index finished down 0.21 per cent.