 "Strides Arcolab buys Ranbaxy's CNS biz from Sun Pharma for Rs 165 cr")
Sun Pharmaceutical Industries Ltd has entered into a definitive agreement to sell erstwhile Ranbaxy’s ‘Solus’ and ‘Solus Care’ divisions operating in the central nervous system (CNS) segment in India to Strides Arcolab Ltd for Rs 165 crores. As per IMS July 2015 MAT report, all the products of these two divisions together accounted for approximately Rs 92 crore in sales.
Abhay Gandhi, CEO – India Business, Sun Pharma, said, “The agreement with Strides is part of our strategy to firmly consolidate our CNS business in India. Post successful completion of Ranbaxy’s merger we had an opportunity to assess the entire portfolio of our India business. We have evaluated each and every therapy segment that we are present in and how these businesses can grow going forward. Based on this evaluation, we firmly believe that the potential of Solus and Solus Care divisions can be greatly enhanced with the focus that Strides will put in growing them. The divestment will help these divisions, its customers and the team.”
Subroto Banerjee, president – brands, India of Strides, said, “The acquisition of Solus and Solus Care divisions is of strategic significance to the growth of our branded business in India. The rich product portfolio and capable teams of these two divisions will help us establish a strong footing in the fast growing CNS market of India. The product portfolio of Strides and these divisions will strategically complement each other very well.”
Banerjee added, “The specialty nature of CNS products makes brand equity and customer relationships, key determinants of success. The Solus and Solus Care divisions readily qualify for both these parameters.”
Abhay Gandhi, CEO – India Business, Sun Pharma, said, “The agreement with Strides is part of our strategy to firmly consolidate our CNS business in India. Post successful completion of Ranbaxy’s merger we had an opportunity to assess the entire portfolio of our India business. We have evaluated each and every therapy segment that we are present in and how these businesses can grow going forward. Based on this evaluation, we firmly believe that the potential of Solus and Solus Care divisions can be greatly enhanced with the focus that Strides will put in growing them. The divestment will help these divisions, its customers and the team.”
Subroto Banerjee, president – brands, India of Strides, said, “The acquisition of Solus and Solus Care divisions is of strategic significance to the growth of our branded business in India. The rich product portfolio and capable teams of these two divisions will help us establish a strong footing in the fast growing CNS market of India. The product portfolio of Strides and these divisions will strategically complement each other very well.”
Banerjee added, “The specialty nature of CNS products makes brand equity and customer relationships, key determinants of success. The Solus and Solus Care divisions readily qualify for both these parameters.”