Strides Arcolab sells Ascent Pharmahealth, hits life time high

Bangalore based pharma firm Strides Arcolab today announced that it had sold 94 per cent of its shareholding in Ascent Pharmahealth Limited, its subsidiary with operations in Australia and Southeast Asia, to Watson Pharmaceuticals. Strides Arcolab will get Australian $375 million for the stake sale.The company's stocks made a new life time high, surging nearly 20 per cent on the bourses.Ascent is among the top five generic pharmaceut...