|  NEWS

drugsSwitzerland-based Fairmed Healthcare AG has had 70% of its stake acquired by Strides Pharma Science for 2.2 million Swiss Francs, the latter company revealed.

As livemint reports, the purchase was made through Strides Pharma Global Pte Ltd.

In a statement, Strides Pharma Science reported: “Under the terms of the agreement, SPG (Strides Pharma Global Pte Ltd) will hold 70% of the issued capital of Fairmed. Strides has infused CHF (Swiss Francs) 2.2 Million into the entity in lieu of the equity stake.”

Fairmed’s products are known to be of high-quality, including prescription and over-the-counter drugs spanning over a variety of therapeutic segments.

Strides went on to say: “Fairmed has built a strong franchise of supplying high‐quality Rx and OTC products in key European markets and the acquisition will augment Strides’ footprint in continental Europe with a direct presence in the German speaking markets of Germany, Austria and Switzerland collectively called as DACH region.”

Strides Pharma Science, the Bangalore-based drug maker, said that Strides and Fairmed could work very well together due to the combination of an extensive international portfolio and suitable market access in the DACH region.

Once the acquisition has been implemented, Fairmed will be able to make use of Strides’ product portfolio for the markets the Swiss company operates in.

The Indian drug making company mostly operates in regulated markets including the UK, EU, South Africa and Canada, while its production sites are located in Bengaluru, Puducherry and Chennai in India – as well as Singapore, Milan, Nairobi and Florida.

Category

Tags

  • pharmaceuticals

News you might like

Media contact

deVere Switzerland’s Public Relations Department deals with all areas of the media and external communications including international, national, regional, local, trade, consumer, print, broadcast, social and online. The Department aims to provide a helpful service to journalists, broadcasters and editors, amongst others, and reply to all media enquiries, including urgent enquiries out of hours, within agreed deadlines. Our press office does not have access to client details and will not be able to assist with individual client enquiries. Please contact deVere Switzerland’s Head of Public Relations on [email protected] or call +44 2071220925