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news.As a part of its strategy to focus on core specialty injectable business, Strides, an India-based integrated manufacturer and exporter of branded and generic finished pharmaceutical dosage forms, has entered into an understanding with Aspen to acquire a facility in Campos, Brazil with related products and IPs.
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Aspen’s facility manufactures Penems and Penicillins and was originally divested to Aspen in 2007, at the time when company exited from Latam operations. The facility is forecasted to deliver $40m on an annualised basis. Strides said that Penems is a key domain for it.
Arun Kumar, vice chairman and Group CEO of Group CEO of Strides Arcolab, said: “Penems and Penicillins form an important part of Strides Specialty injectable business and licensing agreements for Penems have been concluded with various customers on a worldwide basis making the acquisition an important part of growing our Specialty injectable business.”
Reportedly, the consideration for the facility is approximately $75m. The acquisition would be completed subject to obtaining regulatory approvals as may be required.