Agila Specialties Entered into JV with BioChimico

The subsidiary of Strides Arcolab Ltd, Agila Specialties started a Brazilian joint venture with BioChimico to enter the hospital-based anaesthetics and high-end injections segment there. Agila will hold 52 per cent equity in the venture, for which the two signed an agreement. The manufacturing will take place at Strides' Brazilian facility in Campos, and BioChimico's two plants in Rio de Janeiro and Itatiaia, on a pre-determined cost model. To promote joint marketing both companies will transfer selected Brazilian intellectual properties to the new company.

Strides already have a Brazilian presence through Aspen Pharma of South Africa to supply penems and penicillin. The 85-year-old BioChimico Indústria Farmacêutica Ltda is a leading supplier of anaesthetics to Brazil's public and private hospitals.