With a renewed focus on its specialty injectable business, Bangalore-based pharma company Strides Arcolab

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has signed a deal with Aspen to acquire the latter’s facility in Campos, Brazil for $75 million.

In 2007, when Strides Arcolab exited from its Latin America operations, the facility was originally divested to South African firm Aspen. The unit, which is forecast to deliver $40 million on an annualised basis, manufactures Penems and Penicillins. TS Rangan, group CFO told Financial Chronicle, “When we sold the facility in 2007, the facility was in a work-in-progress stage. There is no co-relation between the two transactions. Now, the facility has come a long way with products and IPs.”

Arun Kumar, group CEO of Strides Arcolab said, “Penems and Penicillins form an important part of Strides’ specialty injectable business. Licensing agreements for Penems have been concluded with various customers on a worldwide basis making the acquisition an important part of growing our specialty injectable business.”