Mumbai, June 11: Strides Arcolab has acquired Chennai-based Grandix Pharmaceuticals for an enterprise value of Rs 100 crore.

Strides will acquire 100 per cent in Grandix, which posted sales of Rs 48.50 crore in 2005-06.

As Strides has no domestic presence, Grandix will be the springboard to launch a national base.

Strides plans to increase its medical representatives’ strength to 400 by July to gradually cover the entire country.

Moreover, the management of Grandix will bring its expertise for Strides’ growing branded business worldwide, the company added.

PricewaterhouseCoopers acted as an independent valuer of the transaction.