Strides to buy Aspen’s Brazil unit for $75 m

05 Mar 2010 Evaluate

Pharma firm Strides Arcolab has entered into an agreement with South Africa-based Aspen to acquire the latter’s facility in Brazil for $75 million (nearly Rs 343 crore). In an effort to focus on injectable business, the company has entered into an understanding with Aspen to acquire its facility in Campos, Brazil with related products for $75 million.

 

The buying of Campos unit is part of a well-integrated strategy for Strides with licensing and supply agreement with global partners already in place. The facility manufactures penems and penicillins and penem is a key domain for Strides. The acquisition is subjected to regulatory approvals.

 

Penems and penicillins form an important part of Strides speciality injectable business and licensing agreement for penems have been concluded with various customers on a worldwide basis making the acquisition an important part of growing its speciality injectable business.

 

Aspen is Africa’s largest pharmaceutical manufacturer and a major supplier of healthcare and nutritional products. The group has a presence in Australia, India, Brazil, and the UK, and also exports to many other territories across the globe.

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