ACC Announces Clearance of the Merger of Arrow Pharmaceuticals and Apotex Australia & NZ
Deepthi | Myequity news | Date : 20-09-2018 10:10:00 IST
The Australian Competition and Consumer Commission (ACCC) announced this morning that it has decided not to oppose the merger of generic pharmaceutical companies Arrow and Apotex, after finding the transaction would not substantially lessen competition in any market.
In May 2018, Strides Pharma Science ltd and Apotex Inc announced their intention to merge Arrow Pharmaceuticals and Apotex Australia into a new company, ‘one that will provide Australian customers with unparalleled service and support’.About Strides:
Strides and Apotex today welcomed the ACC’s decision to clear the merger of Arrow Pharmaceuticals and Apotex Australia.
The Transaction remains subject to the conclusion of definitive agreements, Board approval and the satisfaction of certain other conditions, including approval from the Australian Foreign Investment Review Board.
Strides, is global pharmaceutical Company headquartered in Bangalore. The Company has two business verticals, viz., Regulated Markets and Emerging Markets. The Company has a global manufacturing footprint with 7 manufacturing facilities spread across three continents including 5 facilities for Regulated Markets and 2 facilities for the Emerging Markets. The Company has strong R&D infrastructure in India with global filing capabilities and a strong commercial footprint across 100 countries.