Strides Arcolab, Haw Par to acquire Drug Houses of Australia

By Lisa Kerner

Charlotte, N.C., Sept. 1 - Strides Arcolab Ltd.'s indirect wholly owned subsidiary, Strides Singapore Pte Ltd, and Haw Par Healthcare, Singapore, will acquire 100% of generic drug manufacturer Drug Houses of Australia Pvt Ltd., Singapore for S$19.7 million.

The transaction is expected to be completed in September.

Drug Houses of Australia, a wholly owned subsidiary of Haw Par Healthcare Ltd., has a GMP-certified manufacturing facility in Jurong, Singapore. The company, active in Malaysia and Hong Kong, will spearhead Strides' entry into the Asia and China markets.

Strides Arcolab is a global pharmaceutical company based in Bangalore, India.

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