Strides Arcolab to buy Shasun Pharma in all-stock deal

Generic drugmaker Strides Arcolab Ltd said on Monday it had agreed to merge with smaller peer Shasun Pharmaceuticals Ltd in an all-stock deal.

Shasun shareholders will get five shares of Strides for every 16 held in Shasun, the companies said in a joint statement.

Shasun shareholders will own 26% of the combined entity, the statement said.