Deal: Strides has sold its “entire Australian business”, including Arrow Pharmaceuticals, to Arrotex, a vehicle established for the purpose of combining Arrow Pharmaceuticals with the Australian and New Zealand businesses of Apotex Inc, a global pharmaceutical corporation headquartered in Canada.

The transaction also involved Strides entering into a long-term preferred supplier contract with the merged entity Arrotex, which will allow Strides to continue to earn revenue from the merged business, HSF said in a statement.

Value: $394 million.

Area: Corporate.

Key players: The HSF team was comprised of lawyers from the firm's London, Melbourne, Brisbane and Sydney offices and led by London corporate partner and co-head of pharmaceuticals, Alan Montgomery, assisted by corporate associates Nishita Vasan and Martyn Jones, finance partner Will Nevin, associates Oliver Henderson, Susie Nguyen and Siqi Geng, and intellectual property of counsel Laura Deacon.

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Australian legal advice was provided by corporate partner Peter Dunne, associate Wendy Tian (corporate), finance partner Phillip McMahon and associate Anthony Economou (finance), and Greenwoods & Herbert Smith Freehills director Toby Eggleston (tax).

Deal significance: Mr Montgomery said: "We are pleased to have had the opportunity to advise our longstanding client, Strides, on this important transaction, demonstrating our cross-border life sciences M&A capability and our ability to work seamlessly across multiple jurisdictions and offices."