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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_Limited 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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