Advised on Sale of CompanyHealthcare
Acquired 100% Business Operations
Advised Vivimed Labs, a Chennai-based company engaged in Pharma formulation manufacturing for the US, on its sale to Strides Pharma Science Limited (Strides).
Vivimed’s portfolio of 10 approved ANDAs was earlier marketed by third parties, as part of the transaction, the portfolio will now revert to Strides to potentially add an annualised revenue of US$ 25 mn starting from FY20. The USFDA approved Alathur facility with a capacity of 1.5 billion oral solids will support better utilisation of our facilities to service our increased demand in the fast-growing regulated markets business
Strides converted its 50:50 JV with Vivimed to 100% ownership as another step to fast-track its resurgent US Strategy. Strides, listed on the BSE Limited (532531) and National Stock Exchange of India Limited (STAR), is a global pharmaceutical Company headquartered in Bangalore, India. The Company mainly operates in the regulated markets and has an “in Africa for Africa” strategy along with an institutional business to service donor-funded markets. The Company’s global manufacturing sites are located in India- Bangalore (two sites), Pondicherry, and Chennai, Singapore, Italy- Milan, and Kenya- Nairobi. The Company focusses on “difficult to manufacture” products that are sold in over 100 countries.