Strides Arcolab to acquire fermentation assets of Diaspa

New Delhi, May 29 (UNI) Pharma major Strides Arcolab Ltd today said it will acquire fermentation assets of Italy-based Disapa Spa near Milan for an undisclosed amount.

''We intend to harness the existing customer base and product capabilities of Diaspa and aim to become a leading player in the fermentation space,'' Strides Arcolab Group Vice Chairman and Managing Director Arun Kumar said.

The acquisition on closure will give Strides immediate access to USFDA and EU approved facility with strong history of technology and fermentation skills, he said.

The acquisition would be carried out through a special purpose vehicle incorporated in Italy, which will be owned by Strides Arcolab International Ltd (SAIL).

A significant part of Strides dosage form businesses are based on Fermentation Active Pharmaceutical Ingredients (APIs).

''We are also delighted with the strong technology and management bandwidth Diaspa brings along with this acquisition,'' Mr Kumar added.

UNI