Indian drug company makes investment in Brazil
Date added: 19th March, 2010 at 12:10
(view all articles from March, 2010)
Categories: Economy
Strides Arcolab has made an investment in Brazil by purchasing a manufacturing facility in the country.
The Indian drug company has backed up the investment in Brazil by purchasing stakes in two oncology joint ventures from South African firm Aspen Pharmacare Holdings.
All the recent transactions from Strides Arcolab indicate the strategic intent of the company, it stated.
Strides Arcolab explained that its investment in Brazil, coupled with the "establishment of world class sterile assets" in Europe and India, will increase the firm's manufacturing and development capabilities.
"The value of these assets has been demonstrated by the attraction of numerous leading pharmaceutical partners, including multinationals," it commented.
Earlier this month, Aspen Pharmacare agreed to sell all of its Penems at the Campos Basin facility to Strides Arcolab.
Arun Kumar, the vice chairman and chief executive at Strides Arcolab, commented: "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."
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