Strides Arcolab Limited Thursday announced it had entered into an agreement to acquire 70% stake in Bangalore-based biotechnology firm, Inbiopro Solutions. The acquisition marks Strides Arcolab’s foray into biologics. The move is aimed at strengthening the Company’s offering in the Specialty segment. The investment also gives Strides immediate access to a pipeline of 8 products estimated to have global sales of over US$ 28 billion.
Commercialization of these products is expected to begin in 2013. Under the terms of the agreement, an investment of Rs. 65 crore over a period of 3 years is to be used for development and commercialization of the products.
Arun Kumar, Vice Chairman and Group Chief Executive Officer of Strides Arcolab noted that given Stride’s intent to be a global sterile powerhouse, this acquisition enhances its Specialty portfolios while giving it a leap start of at least 3 years in the fast growing and complex biopharmaceutical industry. This is a significant extension to the firm’s oncology domain, providing opportunities for licensing income in the years to come, he said.
Sohang Chatterjee, Chief Executive, Inbiopro Solutions noted that with three years of extensive R&D behind the firm, Stride’s is now ready to take the next step in aligning itself with an industry leader who will see the firm’s products through to commercialization. Inbiopro Solutions brings to Strides a team that is quality focused, and products borne of intensive research, he added.
Strides Arcolab, listed on the Bombay Stock Exchange Limited and National Stock Exchange of India Limited, is a global pharmaceutical company headquartered in Bangalore. The firm develops and manufactures a wide range of IP-led niche pharmaceutical products with an emphasis on sterile injectables. The company has 14 manufacturing facilities across 6 countries with presence in more than 75 countries in developed and emerging markets.
Manufacturing is ably supported by a 350-scientist strong global R&D Centre located in Bangalore.
Agila Specialties Private Limited is the specialties unit of Strides Arcolab which was spun off as a separate division post the Company’s restructuring in 2009. It is focused on key domains such as oncolytics, penems, pencillins, cephalosporins, ophthalmics, peptides and bio-similars and operates from 7 world class global manufacturing facilities, including one of the largest steriles capacity in India and amongst the largest lyophilization (freeze drying) capacities in the world.
Agila’s marketing network covers 70 countries and it has partnerships with some of the world’s leading pharmaceutical companies for both developed and emerging markets.
