Strides Arcolab Ltd has signed an agreement with Aspen to acquire the facility in Campos, Brazil with related products and intellectual properties (IPs). The plant manufactures penems and penicillins and was originally divested to Aspen in 2007, at the time when the company exited from LATAM operations. The facility is forecasted to deliver $40 million on an annualized basis.

The said acquisition is a part of well integrated strategy for Strides with licensing and supply agreement with global partner already in place.

The company will provide about $75 million as a consideration and the acquisition would be completed subject to obtain regulatory approvals as may be required.