Strides Said to Consider Sale of Injectable-Drugs Unit

Strides Arcolab Ltd. (STR)

, a supplier of cancer-fighting drugs to Pfizer Inc., is considering selling its injectable-medicines unit, three people with knowledge of the matter said.

market value

The unit, called Agila Specialties, may be valued at more than Bangalore-based Strides’s current of about $800 million, two people said, declining to be identified as the information is private. Agila’s relative success in winning approvals for new products and the scarcity of facilities able to manufacture injectable medicines make it an attractive target for drugmakers, they said.

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Source: Bloomberg