Strides board nod for 60% stake in Biopharma

Strides Arcolab's board of directors, at their meeting held today, have given their nod for the proposed acquisition of up to 60% stake in Biopharma, a Venezuelean pharmaceutical and marketing company.

According to a release issued by Strides Acrolab to the BSE, the proposed acquisition cost will not exceed $1 million and would be subject to due diligence.

Post due diligence, the investment would be made through its Latin American operations investment vehicle - Strides Latina S.A., Uruguay.