Strides and Apotex to merge Australian generics businesses

Generics and biosimilars Initiative

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Strides and Apotex to merge Australian generics businesses

INICIO/Noticias Farmacéuticas | Posted 22/06/2018 0 Post your comment

India-based generics manufacturer Strides Shasun (Strides) announced on 9 May 2018 that it had made an agreement with Canada-based Apotex to merge their Australian businesses.

Strides, under the Arrow brand, is one of the leading generics makers in the Australian pharmaceutical market. Apotex is the leading generics maker in this market. The two companies have agreed in principle to merge their Australian generics businesses under a new entity, although this will exclude Apotex’s hospital business.

The combination, according to Strides, will enable it to become the leading player in the Australian generics market by both volume and revenue. The merged business will have the largest portfolio generics and approx. 3,200 first-line pharmacy accounts for the Australian market. The merged business will be supported by manufacturing facilities from both Strides and Apotex.

The combined Strides and Apotex business will be run independently under the Arrow and Apotex brands, respectively, and continue to enjoy preferred partner relationship with their respective wholesalers.

According to Mr Roger Millichamp, CEO of Apotex Australia, although both companies are currently in a strong commercial position, the merger will mean that they ‘will be better positioned to meet the future challenges of the Australian pharmaceutical industry’.

This is not the first time Strides has expanded its Australian business. In February 2016, the company signed a deal to acquire a strategic stake in Generic Partners Holdings, an Australian pharmaceutical supply and research company [1].

Australians pay too much for prescription drugs

Reference
1. GaBI Online - Generics and Biosimilars Initiative. Australians pay too much for generics [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2018 Jun 22]. Available from: www.gabionline.net/Generics/General/Australians-pay-too-much-for-generics

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Source: Strides