Strides to acquire fermentation assets of Italy's Disapa
Strides Arcolab Ltd today announced plans to buy fermentation assets of Disapa based near Milan, Italy. The acquisition would be made through a special purpose vehicle.
By TNN |
MUMBAI: Strides Arcolab Ltd today announced plans to buy fermentation assets of Disapa based near Milan, Italy. The acquisition would be made through a special purpose vehicle.
The SPV would be incorporated in Italy and owned by Strides Arcolab International, the company said in a notice to the Bombay Stock Exchange.
Details of the deal were unavailable until final closure.
The Strides Arcolab share moved up 6.16% to Rs 338 on the announcement, with 27,880 shares traded so far.
"The acquisition will give Strides immediate access to a US FDA and EU approved facility. A significant part of Strides dosage form businesses is based on fermentation active pharmaceutical ingredients. Diaspa delivers the integration needs for Strides in this crucial space," Arun Kumar, vice chairman and managing director, was quoted as saying in a press release.
The SPV would be incorporated in Italy and owned by Strides Arcolab International, the company said in a notice to the Bombay Stock Exchange.
Details of the deal were unavailable until final closure.
The Strides Arcolab share moved up 6.16% to Rs 338 on the announcement, with 27,880 shares traded so far.
"The acquisition will give Strides immediate access to a US FDA and EU approved facility. A significant part of Strides dosage form businesses is based on fermentation active pharmaceutical ingredients. Diaspa delivers the integration needs for Strides in this crucial space," Arun Kumar, vice chairman and managing director, was quoted as saying in a press release.
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