Sunday, 24 February 2019

Strides to acquire remaining stake in Vivimed

30 January 2019 | News

Complements Strides’s front end led growth with a de-risked manufacturing base.

Image credit- medcitynews.com

Image credit- medcitynews.com

Strides Pharma Science Limited has announced that the Board of Directors of Strides and its step down subsidiary Strides Pharma Global Pte Limited, Singapore have approved to convert their 50:50 JVs with Vivimed to 100% ownership.

Consequently, Strides will acquire balance 50% stake in Vivimed Life Sciences Private Limited, India and its step down subsidiary, Strides Pharma Global Pte, Singapore will acquire the balance 50% stake in Strides Vivimed Pte Ltd, Singapore to own and operate the erstwhile joint venture companies fully.

In May 2017, Strides entered into an arrangement with Vivimed Labs to set up two Joint Ventures Companies (JVC) as under:

  • Vivimed Life Sciences Private Limited, India- A 50:50 JVC to own the USFDA approved formulations facility at Alathur, Chennai.
  • Strides Vivimed Pte Ltd, Singapore- A 50:50 JVC in Singapore entered into through Strides’s subsidiary Strides Pharma Global Pte, Singapore to own specific approved ANDAs and product pipeline.

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