Strides will acquire the remaining 50% stake in the JVCs for an aggregate consideration of Rs 75 crore which retains the entry valuation of Rs 150 crore for the JVCs.
In May 2017, Strides entered into an arrangement with Vivimed Labs to set up two Joint Ventures Companies (JVC) as under:
Vivimed Life Sciences, India- A 50:50 JVC to own the USFDA approved formulations facility at Alathur, Chennai.
Strides Vivimed, Singapore- A 50:50 JVC in Singapore entered into through Strides's subsidiary Strides Pharma Global Pte, Singapore to own specific approved ANDAs and product pipeline.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content