Strides Acrolab has gained in morning trades on a $75 million acquiaition.
The stock opened at Rs 327 and gained 1.5% to a high of Rs 330. It is now up 1% at Rs 328. The counter has seen trades of around 15,000 shares on the BSE.
The pharma company will be acquiring South Africa-based generic firm Aspen's production unit in Brazil. The acquiaition, a $75 million all-cash deal, is expected to be sealed within 90 days.
The buyout will boost Strides' capacity for speciality injectable business.