Strides Arcolab & Invent Farma Group forms a JVC for Spain & Portugal

Strides Arcolab Ltd has announced that the Company and Invent Farma Group, which includes Laboratorios Lesvi and Inke, a leading Spanish Company has announced to set up a JVC to develop a range of products mainly focused for hospitals in the Spain and Portugal region.

This will he accomplished through a new 50:50 john venture Company (JVC) called Laboratorios DOMAC. It is expected that the JVC will outsource from the Company's exclusive product pipeline of generic and specialty hospital products. The JVC will then outsource from Lesvi pharmaceuticals sales and distribution and marketing capabilities in Spain and Portugal.

The product dossiers developed for the JVC by the Company will be owned exclusively by the JVC. Growth strategies for the JVC would include both organic and inorganic strategies in Europe to expand territories and further leverage the opportunity.

Arun Kumar, Vice Chairman and Group CEO of the Company stated, "The setting up of DOMAC is a true reflection of the 'Strides Value Partnership' model. Using our niche manufacturing and product development skill sets, Strides will ramp up the product pipeline to leverage Invent Farma’s distribution and marketing skills and will work towards creating critical mass for the JVC and significant value to all stake holders".

Source : Equity Bulls

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