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Bangalore, Aug. 6

Strides Arcolab said it has completed the acquisition of fermentation company Diaspa SpA, Italy, for an undisclosed sum. The buy marks Strides’ entry into the fermentation business. It also enables backward integration of a large part of its sterile dosage form that is based on fermentation active pharmaceutical ingredients, a release said. Strides will make additional investments in Diaspa to meet its growing demand of captive pharmaceuticals mainly Vancomycin and T ecoplanin. The Milan-based Diaspa has a fermentation capacity of 925 cubic metres and produces a range of niche pharma products. The facility has EU and USFDA approvals, among them for Deferoximine this year. The acquisition was carried out by the wholly owned Strides Arcolab International Ltd (SAIL). Mr Arun Kumar, Vice-Chairman and MD, Strides Group, said, Diaspa brought with it strong technology, product pipeline and the management. “The acquisition gives Strides immediate access to a USFDA and EU approved facility and provides the technology leadership necessary for Strides to grow its sterile injectible business.”

– Our Bureau

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