Drugmaker Strides Shasun Ltd has agreed to acquire a 55% stake in South Africa-based Trinity Pharma Proprietary Ltd for Rs 27.5 crore ($4.3 million) in an all-cash deal.
The firm will acquire the controlling stake in Trinity Pharma through its wholly owned subsidiary Strides Pharma Asia Pte. Ltd.
Deal will help Strides Shasun enter a high entry barrier market and provide a platform to launch its anti-retroviral drugs (ARVs) in private non-tender market.
Trinity Pharma has proven management and expertise in business development, marketing and regulatory services and provides an established distribution channel for faster commercialisation of existing products of Strides which are already registered in South Africa.
Shashank Sinha, managing director of Strides Shasun said “The acquisition provides an impetus to our ‘In Africa For Africa’ strategy as it fast-tracks Strides presence in the lucrative and high entry barrier South African market. With the acquisition, we are now present in East, West and South Africa, covering all the key markets in sub-Saharan Africa.”
Founded in 2003, Trinity Pharma supplies generic pharmaceutical products to pharmaceutical retailers and provides services relating to regulatory requirements and registration of products.
