Shasun Pharmaceuticals Ltd (SHAS.NS)
|Market Cap (Mil.):||Rs11,961.64|
|Shares Outstanding (Mil.):||60.12|
MUMBAI - Strides Arcolab Ltd has agreed to buy smaller rival Shasun Pharmaceuticals Ltd in an all-stock deal, valued at about $200 million, to bolster its generic medicine and drug ingredient businesses.
* Deal valued at about $200 mln based on Friday closing price
MUMBAI, Sept 29 - Indian generic drugmaker Strides Arcolab Ltd said on Monday it had agreed to merge with smaller peer Shasun Pharmaceuticals Ltd in an all-stock deal.
* Shares up 4 percent, outperforming sector index (Adds CEO comment, detail on pharma business)