Strides Arcolab Limited, a specialty pharmaceuticals company with presence in generics, OTC and nutraceuticals, has firmed up plans to acquire a sterile manufacturing facility in Poland in addition to an acquisition of 70 per cent of stake in Beltapharm S.p.A., a semi solids facility located in Milan, Italy.
The proposal for acquisition of the facility in Poland would be subject to satisfactory legal and financial due diligence and the cost of acquisition is pegged at USD 8.00 million. The facility specializes in small volume parenterals and in steriles and non-sterile semi solids.
Arun Kumar, Group CEO, Strides Arcolab Limited said, "The facility at Poland represents a unique opportunity for the company to establish a manufacturing presence in Central Europe as well as to expand its portfolio and business of finished forms. The Polish facility will give easier access to Europe at a low operating cost. The site has an excellent team and adequate space to take up expansions at a very low incremental cost."
Further, Strides proposes to acquire up to 70 percent stake in Beltapharm, an Italian company operating in the semi solids space. Established in 1982 and head-quartered in Milan, Beltapharm specializes in the production of liquids and semi solids. The outflow for acquisition for a 70% stake in Beltapharm is expected to be in the order of Euro 1.60 million. Beltapharm has refocused its attention to European opportunities and has recently received an EU-GMP approval.