Pharmaceutical company Strides Arcolab said on Friday it has inaugurated its sterile injectable facility at Compos in Rio de Janeiro, Brazil.
"This facility is an important expansion strategy for both the Brazilian operations and Strides group. We are delighted with this major financial and technical commitment the group has made in Brazil," Strides Arcolab's Head (Latin American Operations) Elcemar Almeida said.
The sterile injectable facility at Brazil is for Penems and Penicillins, Strides Arcolab said in a communique to the Bombay Stock Exchange.
"We are confident that the Brazilian operations will continue to
play a significant role in the Strides growth strategy," Almeida added.
The facility was built at a cost of $30 million, and would become a global site for the Strides group's growing sterile business, the company added.
Earlier in February the UK-based Medicines and Healthcare Products Regulatory Agency rates the company's sterile products and antibiotics plant complex in Bangalore as compliant with the principles and guidelines of good manufacturing practices.
The shares of the company were trading at Rs 323, up 1.76 per cent, on an otherwise weak BSE in the early morning trading. Sensex had opened 216.89 points down at 13554.34.
