Strides Arcolab, a pharmaceutical company manufacturing IP-led niche products, witnessed a rise in share price on Friday after the company has acquired seven brands of Johnson & Johnson and a majority stake in domestic branded business of Medispan.

The company said, "The first agreement is for acquisition of seven brands from Johnson & Johnson. The products include across Dermatology, Antiemetic and Pain Management segments, to be launched immediately. The brand portfolio also includes Otogesic eardrops, Ethnorub ointment and Stugil tablets."

"The second agreement is for acquisition of majority stake in domestic branded business of Medispan. This will help gain entry into niche Probiotics segment. The brand portfolio includes established brands such as Lactovit and Lactogut. The business in its entirety (including IPs and manpower) will be transferred to an SPV, Strides Biologix, in which Strides will hold 51%," it added.

The acquired portfolios have a combined revenue potential of Rs 320 million in FY 2015-16.

Shares of Strides Arcolab are trading at Rs 1,328.00, up Rs 17.3, or 1.32% at the Bombay Stock Exchange (BSE) on Friday at 11:03 a.m.

Total volume of shares traded on the bourses today was lower by 51.88% to 179,574 compared with 22-day average volume of 373,210.