| DHA will spearhead Strides AsiaPac and China entry strategies and offers an excellent opportunity to create a regional brand in Asia and China in the long term. |
| Transaction is EPS accretive on acquisition. |
| Mumbai, India: Singapore, 31-Aug-06 |
| Strides Arcolab and Haw Par Healthcare, Singapore have today entered into a share purchase agreement, which provides for Strides Singapore Pte Ltd (an indirect wholly owned subsidiary of Strides Arcolab Limited) to acquire 100% of DHA for a consideration of approximately S$19.7m, which was arrived at on a willing-buyer and willing-seller basis. Transaction is subject to customary closing conditions and is expected to complete within September 2006. |
| Commenting on the acquisition Arun Kumar, Vice Chairman and Managing Director Strides Arcolab said: |
| "The signing of the share purchase agreement with Haw Par Healthcare is the key strategic initiative for Strides to continue to grow through regional strategies alongside global partnerships." |
| Established in 1969, DHA is one of the largest generics pharmaceutical manufacturer in Singapore. It is also an important pharma player in Malaysia and Hong Kong amongst other markets. For the financial year ended December 2005, DHA posted sales revenue of S$16.36 million and PAT of S$2.72 million. |
| DHA has a GMP certified manufacturing facility in Jurong, the industrial heartland of Singapore which manufactures a range of pharmaceutical products. |
| About Strides Arcolab Limited Strides, listed on the Bombay Stock Exchange Limited (532531) and National Stock Exchange of India Limited (STAR), is one of India's largest exporters of branded generic pharmaceutical products. Strides manufactures pharmaceuticals formulations in various dosage forms, including capsules, tablets, liquid injectables and is one of the world's top five manufacturers of softgel capsules. Strides also has the only globally dedicated soft gel facility for hormones. In addition, Strides undertakes contract research and the manufacturing of specialty chemicals for various multinational companies. Strides has a major presence in various developing countries such as Africa, Latin America and Asia as well as in developed markets such as the US, Canada and part of Europe. Strides is one of the largest Indian suppliers of institutionally funded aid projects and is an approved supplier to the World Bank, the African Development Bank and UNICEF, amongst others. |
| Strides has 13 manufacturing plants spread across the US, Brazil, Mexico, Italy, Poland and India. This broad manufacturing network facilities partnering with global organizations ranging from UNICEF and WHO-Global Drug Facility to European and American pharmaceutical multinationals and also private labelers and distribution chains. Strides has product registrations in over 37 countries around the world and has earned ISO 9001, ISO 14001 and GMP accreditations including USFDA. Strides employs approximately 1,700 people across the globe. Strides also has a marketing presence in over 50 countries. |
| Additional information is available at the Company's website at www.stridesarco.com. |
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