Strides Shasun Concedes Acquisitions Harder To Swallow Than Expected As Earnings Disappoint

Arun Kumar, managing director of leading Indian pharmaceutical company Strides Shasun, was hailed as the man with the Midas touch when he sold the company’s injectable-medicine unit to Mylan Inc three years ago for a hefty $1.6bn. But his business-savvy reputation has taken a bit of a knock with Strides conceding the digestion of some recent acquisitions is taking longer than expected after the firm reported earnings which sent its shares tumbling.