Views on Strides Arcolab acquires CNS divisions of erstwhile Ranbaxy: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research - Pharma, Angel Broking)

Strides Arcolab acquires CNS divisions of erstwhile Ranbaxy:

"Sun Pharmaceutical & Strides Arcolab announced that they have entered into a definitive agreement related to erstwhile Ranbaxy's 'Solus' and 'Solus Care' divisions operating in the central nervous system (CNS) segment in India. The agreement involves transfer of these two marketing divisions, along with employees to Strides for a consideration of INR 165cr. As per IMS July 2015 MAT report, all the products of these two divisions together accounted for approximately INR 92cr in sales. The agreement with Strides is part of company's strategy to firmly consolidate its CNS business in India. The transaction is subject to approval from the Competition Commission of India and other customary closing conditions. We remain NEUTRAL on the stock."

Shares of STRIDES ARCOLAB LTD. was last trading in BSE at Rs.1198.2 as compared to the previous close of Rs. 1145.85. The total number of shares traded during the day was 77981 in over 4237 trades.

The stock hit an intraday high of Rs. 1202 and intraday low of 1160.6. The net turnover during the day was Rs. 92485810.

Source : Equity Bulls

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