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Strides Sells Australian Business To Arrow-Apotex Merger

 
• By Grace Montgomery

Strides Pharma Science has agreed to sell its entire Australian business, including its local Arrow unit, to the Arrow-Apotex merged entity known as ‘Arrotex’, as the firm concentrates its efforts in the US and Canada.

RedExit
Strides to exit its Australian businesses • Source: Shutterstock

Strides Pharma Science has agreed to sell its entire Australian business, including its local Arrow unit, to the Arrow-Apotex entity that resulted from the pair’s previously-announced merger, following a review of the Indian firm’s corporate strategy and the Australian market.

The decision comes as the Indian company is bolstering its presence in the US by converting its 50:50 joint venture with Vivimed Labs to 100% Strides ownership and acquiring Vensun Pharmaceuticals, as well as building out its Canadian operations with a majority stake in Pharmapar (Also see "

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