Strides Shasun completes acquisition of Generic Partners

New Delhi : Drug firm Strides Shasun said it has completed acquisition of a controlling stake in Australia-based Generic Partners Holdings.

"We refer to our press release dated February 08, 2016 on 'acquisition of strategic stake in Generic Partners Holdings, Australia'. We now wish to inform you that the above transaction has achieved closure," Strides Shasun said in a regulatory filing.

In February this year, the Bengaluru-based firm had inked a pact to acquire 51 per cent stake in Australia's Generic Partners Holdings Co for AUD 15 million and a commitment of AUD 10 million to fund future R&D.

"The acquisition provides Shasun immediate access to 47 commercialised marketing authorisations. It also provides access to 22 registrations pending approval with Therapeutic Goods Administration (TGA) and strong pipeline of 32 molecules including host of drugs going off patent in future," it said.

Shares of Strides Shasun were trading 1.46 per cent down at Rs 1,094.95 apiece on the BSE.