Strides Pharma acquires stake in Fairmed Healthcare AG

Strides Pharma Science Limited (Strides) on Wednesday announced that Strides Pharma Global Pte Ltd (SPG), a stepdown subsidiary of the company has acquired a majority stake in Fairmed Healthcare AG (Fairmed).

Fairmed Healthcare AG is a Switzerland based company with a portfolio of high quality generic products encompassing prescription and over the counter drugs across several therapeutic segments. Fairmed has built a strong franchise of supplying high-quality Rx and OTC products in key European markets.

With this acquisition, Strides will expand its footprint in DACH (Germany, Austria and Switzerland) region. Under the terms of agreement, SPG will hold 70 per cent of the issued capital of Fairmed. Strides Pharma has infused CHF 2.2 million into the entity of lieu of the equity stake.

Strides Pharma Science Limited (Strides) is an integrated manufacturer and exporter of finished pharmaceutical dosage forms for branded as well as generic. Strides is engaged in the development, manufacture and marketing of pharmaceutical products for regulated and emerging markets.

On Wednesday, the stock of Strides Pharma Science Limited had opened at Rs. 402.00 per share and made an intraday high and low of Rs. 402.70 and Rs. 394.40 respectively on the BSE. At 12.45 pm the stock was trading at Rs. 395.55, down by 0.81 per cent.