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Bangalore-based pharma company, Strides Arcolab, has received investments of $12.50 million from French Development Financing Institution, Proparco.
The investment is in the form of equity participation for 20 per cent stake in the company’s African front-end arm, according to a press statement.
The funds will be used to create additional manufacturing infrastructure in key markets in Africa and to build a regional company, the statement said.
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