Strides Arcolab inks $160mn deal with US company

Strides Arcolab has entered into an agreement with US hospital company, whereby Strides will develop, license and manufacture 4 specialized injectable products for sale in the US market.

According to a release issued by Strides Acrolab to the BSE, the agreement is for an initial period of 5 years, and is renewable for additional periods of time on mutual agreement.

The size of the contract is estimated to be $90 million at the lower end and $160 million at the upper end including milestone payments, the release said.

Arun Kumar, Strides Group CEO said "The successful conclusion of this strategic relationship will significantly increase the credibility of the Strides' partnering philosophy", the release further added.