SRF has signed an agreement to acquire US-based DuPont's medical pharmaceutical propellant business for $20 million in an all-cash deal, said reports.

With the acquistion, the company acquires Global DuPont Dymel HFC 134a Pharma Business, will own its 'Dymel' brand and receive the technology and knowhow for setting up its own current Good Manufacturing Practices (cGMP) facility for manufacturing HFC 134a Pharma grade. DuPont will supply SRF with the product till the company's own production facility is approved.

"This acquisition is in sync with our long-term strategy to move up the value chain and will enable us to enter the niche pharma product segment. The growth in the Metered Dose Inhalers (MDI) sector is expected to be reasonably robust in the years to come. This will also offer great synergy with our existing HFC plants going forward," said Mr Ashish Bharat Ram, managing director, SRF in a statement.