AusBN – Strides Arcolab has announced that it will acquire Aspen Pharmacare’s Australian portfolio of branded and generic products for A$380 million.
Aspen’s Australian portfolio consists of 120 products and Strides acquisition of the products will be financed by a combination of internal accruals and debt financing.
The acquisition will also include access to products that are currently under development by Aspen, which includes a number of major product launches over the next six months.
Strides Arcolab CEO Arun Kumar said: "Aspen's Australian generic pharmaceutical assets are a valuable and unique platform for Strides to rebuild its business in Australia."
The transaction is scheduled to close by the end of the second quarter of this year.