Shares of Strides Arcolab have dropped 12% to Rs 923 in noon trade today amid uncertainty over the sale of its injectables-medicine unit Agila Specialities.
In mid-December Bloomberg had reported that the Bangalore-based pharma company was in talks with US-based Pfizer to sell Agila Specialities. Further, the report also said that Pfizer was conducting due diligence and a deal could be finalised this quarter.
The stock had opened at Rs 1,050 and touched a high of Rs 1,058 and a low of Rs 865 so far on the BSE.
Over 3.2 million shares were traded on both the stock exchanges so far.
