Strides Arcolab, a leading pharmaceutical company based in Bangalore, has entered into an understanding with Aspen to acquire its facility in Campos, Brazil, with related products and intellectual properties (IPs). The consideration to be paid for the facility is around $75 million and the acquisition is part of Strides' strategy to focus on core specialty injectable business.
The facility manufactures Penems and Penicillins and was originally divested to Aspen in 2007, at the time when the company exited from Latin American operations. The facility is forecast to deliver revenues of $40 million on an annualised basis.
Commenting on the development, Arun Kumar, Vice-Chairman and Group CEO, Strides Arcolab, said “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 makes a wide range of IP-led niche pharmaceutical products.
Keywords: Strides Arcolab