India Dealbook: Strides acquires Fairmed; Sanofi sells Gujarat plant to Zentiva 

Photographer: Krisztian Bocsi/Bloomberg

A unit of Strides Pharma has acquired a majority stake in Switzerland-based Fairmed Healthcare AG while Sanofi is selling its manufacturing facility at Ankleshwar, Gujarat to Advent International-backed Zentiva.

Strides Pharma acquires Fairmed Healthcare

Strides Pharma Science Limited (Strides) Wednesday announced that its step down subsidiary, Strides Pharma Global Pte Ltd(SPG), has acquired a majority stake in Switzerland-based Fairmed Healthcare AG.

Under the terms of the agreement, SPG will hold 70 per cent of the issued capital of Fairmed. Strides has infused CHF 2.2 million into the entity in lieu of the equity stake, it said in a press statement.

The acquisition will augment Strides’ footprint in continental Europe with a direct presence in the German speaking markets of Germany, Austria and Switzerland collectively called as DACH region, it added.

Sanofi sells Gujarat facility to Advent-backed Zentiva

Sanofi India Ltd Wednesday said that its board has approved the slump sale and transfer of its manufacturing facility at Ankleshwar, Gujarat to Advent International-backed Zentiva Pvt Ltd for a consideration of Rs 261.7 crore.

The sale, which is subject to customary working capital adjustments, was in line with its broader strategy, including to address the excess and unutilised manufacturing capacity and the focus on manufacturing Sanofi branded products, Sanofi said in a statement.

 

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.