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news.Drug maker Strides Arcolab, an Indian drug manufacturing company, has announced its intent to sell its Australian branded generics unit, Ascent Pharmahealth.
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Strides Arcolab is also securing investment bank Jefferies’ advice on divestment of softgel and anti-retro viral (ARV) drug manufacturing, timesofindia.indiatimes.com reported.
Strides Arcolab plans to lay more emphasis on specialty injectables which is believed to be growing.
Ascent Pharmahealth holds a 13% stake in the Australian market and has established its presence in Singapore, Thailand and Vietnam, the news agency said.