Strides to Acquire Majority Stake in Fairmed

| By | Financing, Generics
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Strides Pharma Science Limited has announced its acquisition of majority stake in Fairmed Healthcare AG.

Strides Pharma Global Pvt Ltd (SPG) is a step down subsidiary of Strides Pharma Science Limited. Fairmed Healthcare AG a Switzerland based company with a portfolio of high quality generic products encompassing prescription and over the counter drugs across several therapeutic segments.

Under the terms of the agreement, SPG will hold 70% of the issued capital of Fairmed. Strides has infused CHF 2.2 million into the entity in lieu of the equity stake.

Fairmed has built a strong franchise of supplying high quality prescription and OTC products in key European markets and the acquisition will augment Strides’ footprint in continental Europe with a direct presence in the German speaking markets of Germany, Austria and Switzerland collectively called as DACH region.

Fairmed had a net sales of Euro 5.8 million in CY 18 driven mainly by its front end presence and a portfolio of 30+ products.

Strides’ vast international product portfolio and Fairmed’s market access in the DACH region is a highly complementary combination to boost extensive growth in the coming years.

The business will incrementally have access to Strides’ already approved product portfolio for the markets.

Strides Pharma Science Limited is a global pharmaceutical company headquartered in Bangalore, India. The company has seven manufacturing facilities spread across three continents including four US Food and Drug Administration (US FDA) approved facilities and two facilities for the emerging markets.

The company has research and development facility in India with global filing capabilities and a strong footprint across 100 countries.

SOURCE: pharmabiz
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