Financial Daily from THE HINDU group of publications
Friday, May 19, 2006
Financial Daily from THE HINDU group of publications Friday, May 19, 2006 |
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Corporate
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Mergers & Acquisitions Strides acquires Warsaw-based sterile unit Our Bureau
Bangalore , May 18 Strides Arcolab has announced that its Polish subsidiary has acquired a Warsaw-based sterile manufacturing unit formerly owned by ICN Valeant, a mid-sized US speciality pharma company. The transaction amount was not disclosed. The Bangalore-based Strides group will install additional capacity in sterile dose form at the Warsaw plant and increase its workforce. Strides Polska will supply globally as well as in Europe. The expansion is to be completed by early 2007. The development enables Strides Polska to expand in Eastern Europe, a company release said. Strides' global network includes a 2006 acquisition of the Italian pharma plant, Beltapharm. Mr Paul Moore, President, Global Manufacturing, said, "This addition further strengthens Strides' presence in Europe and allows us to focus on developing the Polish operations into a strategic part of our manufacturing network, as well as allowing us to promote our products and services in `New Europe'." The sterile facility will add to the group's production capabilities. "Whilst focusing on the European markets, we intend to utilise the unit and its team to supply on a global basis, teaming up with our other plants worldwide. Our planned investments will increase present production capacity as well as introducing new sterile dose forms to the site," Mr Moore said.
More Stories on : Mergers & Acquisitions | Pharmaceuticals | Medical & Surgical Equipments
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