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Strides Arcolab Ltd. would pay Rs. 1 billion to acquire Grandix Pharmaceuticals Ltd. and its laboratory unit, so as to strengthen business at home. Strides Arcolab is among the leading integrated manufacturer and exporter of finished pharmaceutical dosage forms, both branded and generic. With this acquisition, the company is all set to gain a share in the fast growing Indian pharmaceutical market.
Strides Arcolab has no domestic presence, this acquisition will act as springboard in launch of its national presence. Strides recorded a group turnover of over Rs. 760 crore and recently, it bought an Italian fermentation facility for an undisclosed sum.
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