Subscribe


PD breaking news – Strides Arcolab buys Aspen business in Australia

Operation to trade under Arrow Pharmaceuticals brand. 

Indian pharmaceutical giant Strides Arcolab has announced an agreement with Aspen Pharmacare Holdings Limited, to acquire the Aspen generic pharmaceutical business in Australia.

The company said the business and assets being acquired have a current prescription market share which will rank Strides as one of the top three generic pharmaceutical suppliers in Australia, and among the top ten pharmaceutical companies in the Australian pharma market, the company said.

To operate under the Arrow Pharmaceuticals brand, the business will sell about 140 generic prescription drugs and an extensive range of non-prescription pharmacy products, giving Strides “one of the largest pharmaceutical portfoliios in the Australian market”.

Strides previously operated in Australia under the Ascent Pharmahealth brand, which was sold to Actavis in 2012. The new Arrow Pharmaceuticals business will be led by Dennis Bastas, the previous founder and ceo of Ascent Pharmahealth.

Aspen expanded in the Australian market in 2010 when it purchased the generics business of Sigma Pharmaceuticals for $900 million.

Strides said today’s purchase from Aspen is valued at approximately $380 million. 

More details in Monday’s issue of Pharmacy Daily.


The above Breaking News Alert was sent to Pharmacy Daily subscribers on 22 May 15

Make a comment...



Established in 2007, Pharmacy Daily is Australia's leading pharmacy industry publication, and is sent as a free subscription to people across the industry as a PDF newsletter every weekday.

Register for Pharmacy Daily trial subscription

To sign up for a free subscription, click on the button at right.

Click here to see a sample issue of Pharmacy Daily.

Click here for more information on subscriptions.

Alternatively, you can search our site via the search box on the right hand side of the page, or find other content below.

Recent Pharmacy Daily articles

26 Feb

Weekly Comment 26 Feb 18 - WELCOME to PD's weekly comment feature. This ...


26 Feb

Dispensary Corner 26 Feb 18 - REPRODUCTION experts have long held the view ...


26 Feb

Low BC awareness - A NEW report published in Public Health ...


26 Feb

Champix cardiac link - NEW research published in the American Journal ...


26 Feb

Pharmacy’s future - ALL APP Conference 2018 attendees are being ...


26 Feb

Pharmacy chronic pain - DESPITE protestations by pharmacists that they have ...


26 Feb

APC consultant call - THE Australian Pharmacy Council (APC) is calling ...


26 Feb

FDA beats EMA - FROM 2007 to 2016, the US Food ...


26 Feb

Cannabis claims challenge - CLAIMS that medical cannabis use has reduced ...


26 Feb

Beauty Prescription bash - PRICELINE Pharmacy transformed Sydney's Randwick Racecourse into ...


23 Feb

Dispensary Corner 23 Feb 18 - DEDICATION to the task, what every company ...


23 Feb

J&J choice employer - THE Johnson & Johnson Family of Companies ...


23 Feb

Abstract submissions - CHOOSING Wisely Australia, an NPS MedicineWise initiative ...


23 Feb

Codeine price hike - SINCE products containing codeine became prescription only ...


23 Feb

My Chemist wins Roy Morgan PoTY - AUSTRALIAN pharmacy retailer My Chemist has taken ...


23 Feb

E-cigs support detox - ELECTRONIC cigarettes, used as an alternative form ...


23 Feb

New $35m global Ego HQ - FEDERAL Minister for Health Greg Hunt officially ...


23 Feb

Blackmores profit up 20% - BLACKMORES has reported overall group revenue was ...


23 Feb

MCC on cautionary RACP - AUSTRALIA'S peak medical cannabis industry group, the ...


22 Feb

PD breaking news – Blackmores H1 profit up 20% - Blackmores H1 profit up 20%Blackmores has reported ...



Show Pharmacy Daily items by month: