Strides acquires controlling stake in Inbiopro in Rs65-crore deal

Strides Arcolab has agreed to acquire 70-per cent stake in Bangalore-based biotechnology firm Inbiopro Solutions, for around Rs65 crore.

The deal spread over a 3-year period, marks Strides foray into biologics.

The acquisition, made through Strides' wholly-owned specialties subsidiary Aglia Specialties Pvt Ltd, will strengthen the company's offering in the specialty segment.

Strides Arcolab had spun off Aglia Specialties as a separate unit during a restructuring of business in 2009.

The acquisition gives Strides immediate access to a pipeline of eight products with estimated global sales of $28 billion, the company said in a release.

Strides expects commercialisation of the products to begin in 2013.