IPCA Laboratories, a Mumbai-based drugmaker, has acquired as a going concern on slump sale basis the high potency oral solid dosage formulations manufacturing unit situated at sector III, Pithampur, Dhar (Madhya Pradesh). The acquisition consisting of its leasehold land admeasuring 40,000 square meters together with buildings admeasuring 9,523 square meters standing thereon along with its plant and machineries, product dossiers and registrations, intellectual property rights belonging to the said manufacturing unit, etc.
Together with its employees from Alpha Laboratories for a consideration of Rs 71.71 crore inclusive of non compete fees but excluding stamp duty, transfer charges and registration fees payable for effectively transferring the said manufacturing unit in the name of the company. The acquisition of this manufacturing unit will help the company in forward integrating the hormonal APIs being manufactured by the company at its manufacturing unit situated at Nandesari with hormonal formulations for the world market.
Ipca Laboratories is engaged in manufacturing of active pharmaceutical ingredients and formulations. It operates in 110 countries and its export accounts for 50% of the company’s income. Worldwide the company is one of the largest suppliers of APIs and intermediates. The company holds leadership position in Anti-malarial and Rheumatoid Arthritis area.
| Company Name | CMP |
|---|---|
| Sun Pharma Inds. | 1850.75 |
| Dr. Reddys Lab | 1307.35 |
| Cipla | 1365.25 |
| Zydus Lifesciences | 940.00 |
| Lupin | 2442.35 |
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