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DLA, JSA, DSK on GMS Pharma's $22m buy in Strides' Stelis

DLA Piper Middle East and J Sagar Associates (JSA) advised GMS Pharma (Singapore) on its $22m buy of 25.1 per cent equity in Strides Shasun subsidiary Stelis Biopharma which was advised by DSK Legal.

DLA Dubai legal director Diwakar Agarwal and legal consultant Erik Stier, and JSA Mumbai partner Sandeep Mehta, senior associate Srabonee Roy Bhattarai and associate Yosham Vardhan acted for GMS

DSK Mumbai partner Raksha Kothari and senior associates Prachi Garg and Shamayeeta Bhattacharyya acted for Stelis and Strides.

Strides will continue to hold 74.9 per cent equity in Stelis which is engaged in research and development of bio-therapeutic proteins, bio-similars, bio-betters and new biological products, according to DLA’s press release.

The first tranche of this deal amounts to $8.49m (Rs 58 crore), reported Mint.

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