Strides Arcolab Ltd has completed the acquisition of Diaspa S.p.A, Italy, and acquired its fermentation assets including its ongoing business in Milan, Italy.
Strides Arcolab International Ltd (SAIL) carried out the acquisition.
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 and US FDA 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 and Tecoplanin.
Commenting on the acquisition, Arun Kumar vice chairman and managing director of Strides Arcolab Group said, "The acquisition gives Strides immediate access to a US FDA 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]. Kumar has further commented that we are delighted with the strong technology, the product pipeline and the management bandwidth Diaspa brings along with this acquisition".