Genepharm into its Strides
Friday, 13 June, 2008
Shareholders in Australian generic medicines company Genepharm (ASX: GAA) will vote next week on a $61 million plan to acquire the Australian and Asian operating arms of Strides Arcolab, an Indian-based manufacturer of gelatine capsules for pharmaceutical dosage.
The acquisitions are expected to generate up to $32.5 million in sales in 2006/2007, with an EBITDA of around $7.4 million.
In exchange for the trade of Strides regional businesses, Genepharm will give Strides a stake of up to 40 per cent of the company. This will bring Strides' shareholding in Genepharm to up to 55 per cent.
Genepharm said ownership of the businesses would allow it instant access to markets throughout southeast Asia.
Scientists search for cystitis pain 'off switch'
By targeting certain pain receptors in the bladder, Australian scientists believe that the...
Australia's first cases of H5 avian influenza confirmed
Positive results for H5 avian influenza (bird flu) have been confirmed in two seabirds found in...
AusBiotech partners with Tenmile
Designed to support Australia's homegrown life sciences innovation, AusBiotech has announced...
