Strides partners Sagent Pharma

Strides Arcolab, Bangalore-based exporter of branded generic pharmaceutical products, and Sagent Pharmaceuticals, a privately-held specialty pharmaceutical company, have finalised an agreement to jointly develop, supply and market injectable products for the US market.

Arun Kumar, vice-chairman and managing director of Strides Arcolab, in a release said, "The new joint venture will create value for our stakeholders and enrich Sagent's offering of quality pharmaceutical products."

Jeffrey M Yordon, CEO, founder and Chairman of the board of Sagent Pharmaceuticals, said, "This is an important step in Sagent's establishing a deep, consistent pipeline of quality products."

Strides also said that the board of directors had in-principle approved the proposal for the amalgamation of its wholly-owned subsidiaries Quantum Life Sciences and Medgene Pharmaceuticals with the company.

The scheme will be subject to all requisite permissions, sanctions and approvals as may be required.