Strides Arcolab completes acquisition of Diaspa''s fermentation facility in Italy

Strides Arcolab Ltd today announced the completion of the acquisition to acquire Diaspa SpA''s fermentation assets including its ongoing business in Milan, Italy, through its wholly owned Strides Arcolab International Ltd.

Milan-based Diaspa SpA has a fermentation capacity of 925 m3 and produces a
range of niche pharmaceuticals. The facility has a long track record of EU and USFDA
approvals and earlier this year acquired the US drug regulator''s approvals for its deferoximine.

The Indian pharmaceuticals company plans additional investments at Diaspa to meet its growing demand for captive fermentation pharmaceuticals mainly vancomycin & tecoplanin.

"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 injectable business," said Arun Kumar, vice chairman and managing director of Strides Arcolab group. "A significant part of Strides sterile dosage form business is based on fermentation active pharmaceutical ingredients (APIs)."

Kumar also said the Italian company had strong technology, and product pipeline in addition to the management bandwidth.