Bloomberg: Strides Aroclab ponders sale of injectables operation

Sources tell Bloomberg that Bangalore, India-based Strides Arcolab, which supplies injectable drugs to Pfizer ($PFE), GlaxoSmithKline ($GSK) and Novartis ($NVS), is evaluating a sale of its injectable-drugs division, Agila Specialties. The sources put an $800 million value on the unit but analysts say it might be worth twice that based on what other drug company deals have garnered lately. Bloomberg says ​from 2008 to 2010 Agila had the highest number of FDA injectable-medicine approvals with 32, compared with 23 at rival Hospira ($HSP). It has at least 8 manufacturing facilities in India, Brazil and Poland, having picked up a new injectables plant in India in April. Story | More