Brooks Laboratories & Strides Pharma’s SteriScience forms joint venture for US and European market

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Team Infinities:

Brooks Laboratories Limited, NSE Symbol: BROOKS, BSE Script Code: 533543, a pharmaceutical company operating in both the national and global markets has announced that it has completed the joint venture with SteriScience Private Limited. Strides Pharma Science Limited NSE Symbol:STAR,  BSE Script Code:532531 is majority shareholder in  SteriScience Private Limited. The joint venture aims creating a marketing joint venture for the global markets like USA, Europe and other regulated markets, and a manufacturing joint venture partnership of robust Carbapenem business; and towards building a prosperous business with integrated manufacturing capabilities, it is subject approval of shareholders. It would set up a front-end entity in order to market the Carbapenem products globally. The stake of Brooks Laboratories would be 44.33% in the venture. SteriScience would be investing Rs.100 millions for the regular filings in the front-end entity and Rs. 400 millions for the creation of additional manufacturing facilities.

Brooks Laboratories along with SteriScience would carry out manufacturing, marketing and distribution of the Carbapenem products to the  various markets of the globe by these joint venture entities. Carbapenem are highly effective antibiotics agents used for the treatment of severe bacterial infections. As per the companies this would an opportunity of $2 billions+.

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