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Mergers & Acquisitions | 17 August 2012

KKR, Novartis, Pfizer In Race To Acquire Strides' Unit

by Paritosh Gajjar
KKR, Novartis, Pfizer In Race To Acquire Strides' Unit
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Strides Arcolabs' injectable-drugs unit, Agila Specialties Private Limited is up for sale and 'serious bidders' for the asset are Novartis and Pfizer along with U.S buyout fund KKR, ET stated.

Strides is expecting to receive anywhere between $1.6-2 Bn for the unit - more than twice its market value.

Strides provides Pfizer with generic versions of off-patent drugs through a partnership announced in 2010.

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