Strides Arcolab on Thursday said Akorn-Strides, its equal joint venture with Akorn, agreed to sell 16 approved abbreviated new drug approvals (ANDAs) and 6 filed ANDAs to Pfizer.
Strides would be entitled to $ 28.2 million in cash as its share of the consideration in addition to entering into supply agreement with Pfizer for manufacturing and supply of these products, the company said in a statement.
As part of the agreement, Akorn-Strides will continue to manufacture and distribute a limited number of the approved products until April 30, 2011.
At 12:40 pm IST, shares of Strides Arcolab were trading 1.20 per cent higher at Rs 444.50 on the National Stock Exchange (NSE) on Thursday.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app