New Delhi, March 17 Strides Pharma Science announced on Tuesday that it has entered into an agreement with Sandoz AG to acquire certain branded generic products across Sub-Saharan Africa.
Strides Pharma International AG (SPIAG) has entered into definitive agreements with Sandoz AG, Switzerland, and its group entities for the transaction.
The upfront consideration for the proposed transaction is USD 12 million, payable at closing, Strides Pharma Science said in a regulatory filing.
The transaction also provides for royalty payments to Sandoz based on a percentage of net sales of distribution products, it added.
The transaction is expected to be completed by the end of Q2 FY27, it stated.
The agreement covers four key markets – Western Sahara (covering 10 countries), Ghana, Nigeria, and Kenya.
The branded generic portfolio of Sandoz, as part of this deal, includes multiple brands across anti-infective, cardiovascular, and dermatology therapeutic segments.
Several of these products individually generate annual sales exceeding USD 1 million, reflecting their established brand equity and market demand.
"With the combined strength of Strides' existing business and the branded portfolio being acquired from Sandoz, Strides is expected to become one of the top five pharmaceutical companies in the SSA region by sales and among the top two players in the representable market," the company stated.