Strides Shasun has achieved closure with Vivimed Labs to set up Joint Ventures (JV) in Indian and Singapore.

Earlier in May, the company had signed definitive agreements with Vivimed Labs to set up two JV companies. The 50:50 joint venture in India would own the USFDA approved formulation facility in Alathur, Chennai and the equal JV in Singapore through Strides Pharma Global Pte, Singapore would own certain approved ANDAs and product pipeline.

Shares of the company gained Rs 1.85, or 0.2%, to trade at Rs 943.00. The total volume of shares traded was 7,772 at the BSE (2.19 p.m., Thursday).