Strides Arcolab and Shasun Pharma to merge

3 October 2014

The boards of Indian drugmakers Strides Arcolab (BSE: 532531) and Shasun Pharmaceuticals (BSE: 524552) have approved a scheme of amalgamation between the two companies.

The announcement pushed the share price of Strides Arcolab up 8.7% to 698.80 rupees, but Shasun Pharma stock fell by 1rupee to195.50 rupees on the BSE.

The combination creates a vertically integrated pharma company of scale with strong presence in front-ended regulated markets finished dosages, emerging markets branded generics, institutional business, active pharmaceutical ingredients and contract research and manufacturing services. The combined company will have pro forma sales of 2,500 crore rupees ($404 million).

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