Life Sciences company Strides Arcolab today announced that it has completed the acquisition of controlling stake in Australia's Ascent Pharmahealth.
Post acquisition, Strides will be the fourth largest generic compay in Australia. Ascent Pharmahealth will include the assets of Drug Houses of Australia [DHA] in Singapore, a wholly owned subsidiary of Strides. Ascent has revenues of over $90 million.
Arun Kumar, vice-chairman and group CEO of Strides said: “Australia and the emerging markets of Asia are strategic and important markets for Strides. With Asia growing 3 times in comparison with Western markets, we strongly believe that Ascent Pharmahealth is positioned to take leadership in these markets.”