Quebec Generic Drug Company KDA to Sell 80% Stake in Distribution Arm to Indian Company for C$4 Million

Thetford Mines, Quebec-headquartered KDA Group Inc. (KDA) has signed an agreement with Bangalore, India-headquartered Strides Pharma Global Pte. Ltd. (Strides) for the sale of a majority stake in Pharmapar Inc. (Pharmapar), a division of KDA Group. Strides has agreed to acquire 80 per cent all the issued and outstanding common shares of Pharmapar, the generic distribution arm of KDA, for C$4 million. The closing of the proposed transaction is expected around December 31, 2018. KDA is a generic drug distributor and specialized solution provider in the pharmaceutical market. Strides is global pharmaceutical company with R&D infrastructure in India and commercial footprint across 100 countries.

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