Markets :: Fine Chemicals/Biotech :: Pharmaceutical ingredients
Pharmaceuticals: Strides Arcolab and South African Firm Agree Assets Swap
3:51 AM MST | November 22, 2007 | Deepti Ramesh
Pharmaceutical company Strides Arcolab (Bangalore, India) and pharmaceuticals firm Aspen (Durban, South Africa) say they have agreed a new partnership that involves swapping assets between the two companies. Under the terms of the agreement Aspen will buy 50% of Strides’ Latin American operations, valued at about $260 million. Aspen will initially pay $58.5 million and then subscribe to fresh shares for $94 million. In return Strides will acquire 51% stake in Aspen’s UK based generics subsidiary, Co Pharma Ltd (Watford, U.K.) for about $6 million and...
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