Sequent Scientific has acquired 35,00,000 equity shares in Shasun Pharmaceuticals through preferential allotment mode, for around Rs 38.5 crore. Following the acquisition, the Bangalore-based company would have 5.82% share in Shasun Pharmaceuticals’ total equity shares.
Earlier, Sequent Scientific, which has launched a joint venture firm with Shasun Pharma some time back, has been planning to pick up a minority stake of around 16% in the company with an investment of around Rs 116 crore.
Shasun Pharmaceuticals manufactures active pharmaceutical ingredients (APIs), their intermediates and enteric coating excipients with a significant presence in some key generics. Shasun has created a strong product portfolio, building on its R&D Expertise, regulatory capabilities and multi scale production capacities. It is one of the largest producers of Ibuprofen worldwide.
