Strides Shasun acquires stake in Trinity Pharma, South Africa

Acquisition expands Strides’ presence from West & East Africa to South Africa

Strides Pharma Asia, Singapore, a wholly-owned subsidiary of Strides Shasun has entered into definitive agreements with Trinity Pharma Proprietary, South Africa (Trinity) for acquisition of controlling stake in Trinity.

The transaction will allow Strides to establish a presence in the high entry barrier market of South Africa where product dossier approval takes more than five years. It will provide access to pipeline of more than 110 product dossiers already submitted. The acquisition comes with proven management and expertise in business development, marketing and regulatory services. It will be an important platform for Strides’ ARV launch in the large, private non-tender market in South Africa and will provide established distribution channel for faster commercialisation of existing products of Strides, already registered in South Africa.

Under the terms of the agreement, Strides Pharma Asia, Singapore will acquire 55 per cent stake in Trinity for a cash consideration of South African Rand 55 million (approximately Rs 27.5 crores). The current management will stay as minority partner and will continue to run the business under the supervision of Strides. The transaction is subject to customary closing conditions including approval from the South African regulatory authority, Transaction Regulation Panel and expected to close on or before January 5, 2018.