Eris Lifesciences has entered into a definitive agreement to acquire Strides Shasun, India branded generics business for a total cash consideration of Rs.500 crore.

Strides India branded generics business consists of a portfolio of 130 plus brands in the fields of neurology, psychiatry, nutraceuticals and gastro.

According to the agreement, Eris will acquire the marketing and distribution rights for the above portfolio in India, and it will also acquire the employees which are the part of the business, while Strides will hold the global rights to the business.

Moreover, the deal is subject to customary closing conditions and parties involved expect to close the deal by November 30,2017.

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