Strides Arcolab to acquire Italian pharma co Diaspa

Strides Arcolab is set to acquire an Italian-based company Diaspa, which has a US FDA approved fermentation plant for niche pharma products.

Arun Kumar, Managing Director of Strides Arcolab, said they would not need to raise money to fund the acquisition. He said the deal is to be funded by internal accruals and debt funds.

He, however, refused to disclose the deal size. The deal is likely to be closed in 90 days.