Strides Arcolab completes acquisition of Diaspa's USFDA approved fermentation facility in Italy

Strides Arcolab Ltd on August 06, 2007 has announced that it has completed the acquisition of Diaspa S.p.A, Italy, and has acquired its fermentation assets including its ongoing business in Milan, Italy.

The acquisition was carried out by Strides Arcolab International Ltd (SAIL), a wholly owned Company of the Company.

Diaspa S.p.A based in Milan, Italy has a fermentation capacity of 925 m3 and produces a range of niche pharmaceuticals. The facility has a long track record of EU & USFDA approvals with the recent approvals of Deferoximine in 2007.

The Company will make additional investments at Diaspa to meet its growing demands of captive fermentation pharmaceuticals mainly Vancomycin & Tecoplanin.

Commenting on the acquisition, Mr. Arun Kumar - Vice Chairman and Managing Director of Strides Arcolab Group said "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. A significant part of Strides sterile dosage form business is based on Fermentation Active Pharmaceutical Ingredients [APIs]. Mr. 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".

Source : Equity Bulls

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