IPCA Laboratories is acquiring 33.38% from the promoters of Unichem Laboratories (UL). Promoters before this transaction owned 50.94% of UL. Out of the balance, 9.85% was held by the institutions and 39.21% by the retail investors. Â Transaction is announced @ Rs 440/ share aggregating to Rs 1,034.06 cr. This implies a premium of about 17% … Read more
As per newspaper reports, Sanofi India is working on spinning off it’s consumer healthcare business in India in a separate listed entity. The subject unit’s products include leading anti-allergy brands such as Allegra and Avil, pain management drug Combiflam and Vitamin D brand Depura. The business posted revenue of Rs 1,000-1,250 crore in CY22 (against … Read more
The government on Tuesday cancelled the licences of 18 pharmaceutical companies for manufacturing of spurious medicines following an inspection by the Drugs Controller General of India (DCGI) on 76 companies across 20 states. “Huge crackdown under way on pharma companies across the country related to manufacturing of spurious medicines,” news agency ANI reported quoting sources. … Read more
Ajanta Pharma has announced buyback once more. This is 4th year in a row, previous 3 details can be checked here. Current buyback details are – 22,10,500 shares constituting 1.73% of the outstanding capital Buyback price is Rs 1,425/ share which is at 17% premium to the current market price Rs 315 cr will be … Read more
Eris Lifesciences is acquiring 9 dermatology brands from Glenmark Pharma. The brands are – Onabet, Halovate, Sorvate, Luligee, Demelan, Aceret, Dosetil, Revize, and Powercort, and their sub-brands. The acquisition is for the India and Nepal Territories Consideration for the transaction is Rs 340 crore payable in cash. Turnover of the acquired brands: FY 20 – … Read more
Private Equity major, Advent has confirmed that it has entered into a definitive agreement to acquire a controlling stake in Suven Pharmaceuticals (SP). Advent is acquiring 50.1% from the promoters (Jasti Property and Equity Holdings Private Limited) at Rs 495/ share totalling Rs 6,313 cr. Above considration is 100% cash payable by Advent to the … Read more
Ajanta Pharma has informed that two of it’s prom0ter entities have sold stake totalling 4.38% into the Company through open market transactions. Total Promoter stake consequently has reduced from 70.48% to 66.1% Stake has been sold by Aayush M. Agrawal, trustee Aayush Agrawal Trust (3.03%)Â and Ravi P. Agrawal, Trustee Ravi Agrawal Trust (1.35%) Reports … Read more
The ED has arrested two company executives linked to the liquor trade in the money laundering investigation being conducted by it into the now-scrapped Delhi Excise policy case, official sources said Thursday. Benoy Babu of Pernod Ricard and Sharath Reddy of Aurobindo Pharma have been arrested under sections of the Prevention of Money Laundering Act … Read more
JV has been formed between – Aster Pharmacies Group LLC (APG) – a company registered in Dubai and a material subsidiary of Aster DM Healthcare Limited (ADHL). and Abdulmohsen Al Hokair Holding Group (AAH) – the group was started in 1975 to invest in the sectors of entertainment and hospitality. Group’s projects include 92 entertainment … Read more