Merger creates leading player in Australian generics market
Indian generics drugmaker Strides Arcolab (BSE: 532531) will soon have a controlling interest in the largest player in the Australian generics market.
Strides – which operates under the name Arrow in Australia – has announced an agreement with Canadian drug company Apotex to merge their Australian businesses.
"Both companies are currently in a strong commercial position, but will be better positioned to meet the future challenges of the Australian pharmaceutical industry following the merger"
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