Apotex and Strides Shasun have agreed in principle to merge their Australian businesses under a new entity, in a deal that will allow the combined company to become “the leading player in the Australian generic pharmaceutical market by both volume and revenue”. Strides will have a “controlling interest in the merged entity”, with the share-swap transaction subject to a final definitive agreement between the firms, as well as due diligence and regulatory approvals including from the Australian Competition and Consumer Commission (ACCC).
“Potential synergies will accrue through higher volumes and improved cost of goods sold,” Strides observed, adding that the merged business...
