Strides Pharma Science shares gained over 3% after the company announced a strategic acquisition aimed at expanding its footprint in the Sub-Saharan Africa (SSA) region. As of 9:38 AM, the shares were trading 3.24% higher at Rs 903.80.
Strides, through its step-down subsidiary Strides Pharma International AG, has entered into definitive agreements with Sandoz AG, Switzerland, and its group entities. The agreement involves the acquisition and in-licensing of a portfolio of branded generic pharmaceutical products.
The transaction covers four key markets in Africa—Western Sahara, Ghana, Nigeria, and Kenya. The acquired portfolio includes multiple established brands across therapeutic segments such as anti-infectives, cardiovascular, and dermatology. Several of these products generate annual sales exceeding US$1 million, indicating existing market demand and brand presence.
Under the terms of the agreement, Strides will fully acquire certain products while continuing to market selected products on behalf of Sandoz. Additionally, the company will enter into a Manufacturing and Supply Agreement with Sandoz to ensure continuity in production and supply of these medicines.
The acquisition is expected to enhance Strides’ position in the SSA pharmaceutical market. Post-completion, the company aims to be among the top five pharmaceutical players in the region by sales and among the top two in the specific markets involved.
The deal is valued at an initial consideration of US$12 million, payable at closing, and will be funded through internal accruals. According to the company, the transaction is expected to be earnings per share (EPS) accretive, supported by profitability of the acquired portfolio and potential operational synergies.
The acquisition is expected to be completed by the end of Q2 FY27, subject to regulatory approvals and other customary closing conditions, including antitrust clearances.