Brief: India's Strides Pharma Science Dec-Qtr Consol Net Profit Rises

Vivimed Labs

29/01/2019 07:57

Jan 29 (Reuters) - Strides Pharma Science Ltd  SRID.NS :
    * DEC QUARTER CONSOL NET PROFIT 2.93 BILLION RUPEES VERSUS
PROFIT
OF 854.8 MILLION RUPEES LAST YEAR
    * CONSENSUS FORECAST FOR DEC QUARTER CONSOL NET PROFIT WAS
285.5
MILLION RUPEES 
    * DEC QUARTER CONSOL REVENUE FROM OPERATIONS 7.95 BILLION
RUPEES
VERSUS 7.49 BILLION RUPEES LAST YEAR
    * IN DEC QTR, CO HAD A GAIN OF 2.72 BLN RUPEES ON DISPOSAL
OF
ASSETS
    * SAYS STRIDES TO EXIT ARROW FOR A VALUE OF A$394 MILLION
    * SAYS ACQUISITION OF 80 PERCENT STAKE IN PHARMAPAR INC TO
BUILD
OUT CANADIAN OPERATIONS
    * ACQUISITION OF 100 PERCENT STAKE IN VENSUN
PHARMACEUTICALS, INC.
TO TAKE CONTROL OF THE PARTNERED PRODUCTS
    * TO CONVERT CO'S 50:50 JVS WITH VIVIMED TO 100% OWNERSHIP
    * CO TO SELL COMPLETE STAKE IN ARROW TO ENTITIES OWNED AND
OPERATED BY DENNIS BASTAS, EXECUTIVE CHAIRMAN AND CO-FOUNDER OF
ARROW
    * ARROW WILL MERGE WITH APOTEX TO CREATE THE NEW ENTITY
ARROTEX
    * PROPOSED TRANSACTION ALLOWS STRIDES TO ENTER INTO A
10-YEAR
PREFERRED SUPPLIER CONTRACT WITH THE MERGED ENTITY
    * TRANSACTION TO EXIT ARROW WOULD BE IMMEDIATELY EPS
ACCRETIVE 
    * WILL ALSO RETAIN ACCESS TO IP OF 140 PRODUCTS IN ARROW
PORTFOLIO
WITH FUNGIBILITY IN OTHER GLOBAL MARKETS

Source text: http://bit.ly/2RWQm5a
Further company coverage:  SRID.NS 

 ((Reuters.Briefs@thomsonreuters.com;))