<article>Indian drug maker <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=strides+shasun" target="_blank">Strides Shasun</a> has signed an agreement to acquire Perrigo API India Pvt Ltd for Rs 100 crore ($14.8 million), the company said in a stock market disclosure.</article>

Indian drug maker <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=strides+shasun" target="_blank">Strides Shasun</a> has signed an agreement to acquire Perrigo API India Pvt Ltd for Rs 100 crore ($14.8 million), the company said in a stock market disclosure.
The deal, which is subject to customary closing conditions, is expected to close by end of this month.
&#8220;With this acquisition, the company bring into its fold a US FDA approved API facility designed to handle multipurpose small batch productions. Meanwhile, Perrigo parent or affiliates will continue to source few products from the facility under a long term supply agreement,&#8221; said Shashank Sinha, Group CEO, Strides Shasun.
Last month, Strides Shasun had also announced that it would buy Swedish firm <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Moberg+Pharma" target="_blank">Moberg Pharma</a>’s paediatric brand <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=PediaCare" target="_blank">PediaCare</a> for $5 million plus inventory value at closing.
Founded in 1987 in Israel, Perrigo API provides differentiated active pharmaceutical ingredients (APIs) and finished dosage forms (FDFs) for the branded and generic pharmaceutical industries. For the year ended in March 2016, the company reported a turnover of Rs 73.76 crore and had a gross assets of Rs 287.4 crore.
Bangalore-headquartered Strides Shasun has four business verticals- regulated markets, emerging markets, institutional business and active pharmaceutical ingredients, and has 13 manufacturing facilities.
The company had started strengthening its API business in 2014 when it merged with Shasun Pharmaceuticals Ltd in a $221 million deal. Post merger, Strides Shasun got access to two US FDA API facilities which had a combination of API&#8217;s for captive consumption and commodity APIs.
It recently announced to hive off the commodity API business to a separate entity to separate the business from integrated APIs.
Strides Shasun scrip closed at Rs 1119.65 each, up 3.32 per cent on BSE in a strong Mumbai market on Friday.
Also Read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/india-strides-shasun-hives-off-api-business-50880/" target="_blank">India: Drug maker Strides Shasun to hive off API business into separate subsidiary</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/strides-shasun-to-sell-uk-arm-for-36m-41024/" target="_blank">Drug maker Strides Shasun to sell UK arm for $36m</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/india-strides-to-acquire-swedish-firm-moberg-pharmas-paediatric-brand-59391/" target="_blank">India: Strides to acquire Swedish Moberg Pharma’s paediatric brand</a>

Indian drug maker Strides Shasun has signed an agreement to acquire Perrigo API India Pvt Ltd for Rs 100 crore ($14.8 million).

India: Drug maker Strides Shasun to buy Perrigo API India for $14.8m

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India: Drug maker Strides Shasun to buy Perrigo API India for $14.8m

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