Strides acquires Diaspa's fermentation unit
Pharmaceutical company Strides Arcolab today said it has completed the acquisition of Italy-based Diaspa SpA's fermentation assets including its ongoing business in Milan.
By PTI |
MUMBAI: Pharmaceutical company Strides Arcolab today said it has completed the acquisition of Italy-based Diaspa SpA's fermentation assets including its ongoing business in Milan.
"The acquisition gives Strides immediate access to a USFDA and EU approved facility and provides the technology leadership necessary for Strides to grow its Sterile Injectable business," Strides Arcolab Group Vice Chairman and Managing Director Arun Kumar said.
The company would make additional investments at Diaspa to meet its growing demands of captive fermentation pharmaceuticals mainly Vancomycin & Tecoplanin, Strides Arcolab said in a filing to the Bombay Stock Exchange.
Arun Kumar further commented that "we are delighted with the strong technology, the product pipeline and the management bandwidth Diaspa brings along with this acquisition".
The acquisition was carried out by Strides Arcolab International Ltd, a wholly owned subsidiary of Strides Arcolab.
Diaspa has a fermentation capacity of 925 m3 and produces a range of niche pharmaceuticals. The facility has a long track record of EU and USFDA approvals with the recent approvals of Deferoximine this year.
Shares of the company closed at Rs 276.15, down 0.88 per cent on BSE.
"The acquisition gives Strides immediate access to a USFDA and EU approved facility and provides the technology leadership necessary for Strides to grow its Sterile Injectable business," Strides Arcolab Group Vice Chairman and Managing Director Arun Kumar said.
The company would make additional investments at Diaspa to meet its growing demands of captive fermentation pharmaceuticals mainly Vancomycin & Tecoplanin, Strides Arcolab said in a filing to the Bombay Stock Exchange.
Arun Kumar further commented that "we are delighted with the strong technology, the product pipeline and the management bandwidth Diaspa brings along with this acquisition".
The acquisition was carried out by Strides Arcolab International Ltd, a wholly owned subsidiary of Strides Arcolab.
Diaspa has a fermentation capacity of 925 m3 and produces a range of niche pharmaceuticals. The facility has a long track record of EU and USFDA approvals with the recent approvals of Deferoximine this year.
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Shares of the company closed at Rs 276.15, down 0.88 per cent on BSE.
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