Indian Pharma Shops In Brazil

Indian pharmaceutical company Strides Arcolab says it is acquiring the Brazil-based penems and penicillins manufacturing business of South Africa’s Aspen Pharmacare for $75m in cash. The buyer says the acquisition is part of its efforts to grow its specialty injectable business and that the unit’s revenues are expected to reach $40m annually. Aspen, meanwhile, says it is restructuring its LatAm business, where revenue from domestic brands has declined by 15% to ZAR345m ($46m). The primary underperformer is the Brazilian business, says the seller. The deal was privately negotiated.