Strides Arcolab completes Diaspa buy
Diaspa has a fermentation capacity of 925 cubic meters and produces a range of niche pharmaceuticals.
By INDIATIMES NEWS NETWORK |
MUMBAI: Strides Arcolab on Monday said it has completed the acquisition of Italy's Diaspa and fermentation assets including its ongoing business in Milan. The buy was carried out by Strides Arcolab International.
Diaspa has a fermentation capacity of 925 cubic meters and produces a range of niche pharmaceuticals.
Strides Arcolab will make additional investments into Diaspa to meet its growing demands of captive fermentation pharmaceuticals - mainly Vancomycin & Tecoplanin.
“The acquisition gives Strides immediate access to a USFDA and EU approved facility and provides the technology necessary for Strides to grow its sterile injectable business,” said Arun Kumar, vice chairman and managing director of Strides Arcolab.
The share ended 0.88% lower at Rs 276.15 tracking the general market weakness.
Diaspa has a fermentation capacity of 925 cubic meters and produces a range of niche pharmaceuticals.
Strides Arcolab will make additional investments into Diaspa to meet its growing demands of captive fermentation pharmaceuticals - mainly Vancomycin & Tecoplanin.
“The acquisition gives Strides immediate access to a USFDA and EU approved facility and provides the technology necessary for Strides to grow its sterile injectable business,” said Arun Kumar, vice chairman and managing director of Strides Arcolab.
The share ended 0.88% lower at Rs 276.15 tracking the general market weakness.
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