Strides Arcolab has entered into an agreement to acquire 70 per cent stake in Inbiopro Solutions, a Bangalore-based biotechnology firm. The acquisition marks Strides' foray into biologics, strengthening the company's offering in the speciality segment.
According to a stock exchange announcement, the acquisition will give Strides immediate access to a pipeline of eight products estimated to have global sales of over $8 billion. Commercialisation of these products is expected to begin in 2013. The acquisition will entail investment of Rs 65 crore over a period of three years to be used for development and commercialisation of products.
The acquisition will be made by Agila Specialties, a wholly-owned specialties subsidiary of Strides.
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