Strides Arcolab has entered into an understanding with Aspen to acquire the facility in Campos, Brazil with related products and IPs for a total consideration of US$ 75 million. The Campos facility is engaged in producing penems and penicillins. It was originally divested to Aspen in 2007 at the time when company exited from LATAM operations.

The facility is likely to generate income of US$ 40 million on an annualized basis. penems is a key domain for Strides. The acquisition of Campos facility is part of a well integrated strategy for Strides with licensing and supply agreements with global partners already in place.

According to Arun Kumar, vice chairman and Group CEO, "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."

Strides Arcolab, develops and manufactures a wide range of IP-led niche pharmaceutical products with an emphasis on sterile injectables. The company has 14 manufacturing facilities across 6 countries, including its joint venture with Aspen in India and has a marketing presence in more than 60 countries in developed and emerging markets.