Strides to acquire Campos facility in Brazil from Aspen
Strides Arcolab (BSE: 532531, NSE: STAR) today announced that as part of its well articulated strategy to focus on Core Specialty injectable business, it has entered into an understanding with Aspen to acquire the facility in Campos, Brazil with related products and IPs.
The facility manufactures Penems and Penicillins and was originally divested to Aspen in 2007, at the time when company exited from LATAM operations. The facility is forecasted to deliver USD 40 Million dollar on an annualized basis. Penems is a key domain for Strides. The acquisition of Campos facility is part of a well integrated strategy for Strides with licensing and supply agreements with global partners already in place.
The consideration for the facility is approximately USD 75 Million. The acquisition would be completed subject to obtaining regulatory approvals as may be required.
Commenting on the development – Mr. Arun Kumar, Vice Chairman and Group CEO stated “Penems and Penicillins form an important part of Strides Specialty injectable business and licensing agreements for Penems have been concluded with various customers on a worldwide basis making the acquisition an important part of growing our Specialty injectable business.
Strides Arcolab Limited: Leadership Through Partnering
Strides Arcolab, listed on the Bombay Stock Exchange Limited (532531) and National Stock Exchange of India Limited (STAR), is a global pharmaceutical company headquartered in Bangalore, India that develops and manufactures a wide range of IP-led niche pharmaceutical products with an emphasis on sterile injectables.
The company has 14 manufacturing facilities across 6 countries, including its joint venture with Aspen in India and has a marketing presence in more than 60 countries in developed and emerging markets. Manufacturing is ably supported by a 350-scientist strong global R&D Centre located in Bangalore. Additional information is available at the company’s website at www.stridesarco.com.
Source: Strides Arcolab