Strides Arcolab’s wholly owned subsidiary - Agila Specialities has acquired a USFDA approved sterile formulations facility situated at Hosur in Tamil Nadu from Star Drugs and Research Labs. This acquisition is part of the company’s well articulated strategy to build and expand the core injectable business.
This facility manufactures a wide range of injectable formats. The liquid vials unit with a capacity of 97 million units has recently been approved by the USFDA. The facility is located at Hosur in Tamil Nadu and is in close proximity to the company’s new sterile complex, in the outskirts of Bangalore.
The consideration for the facility is approximately Rs 125.00 crore and is being funded from cash in hand and internal accruals. The company expects to ship products to the USA from this facility starting Q3 2012.
Strides Arcolab is a global pharmaceuticals headquartered in Bangalore, India that develops and manufactures a wide range of IP-led niche pharmaceuticals products with an emphasis on sterile injectables.
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