Indoco Remedies has acquired the Clinical/Contract Research Organisation (CRO) division of Piramal Enterprises (PEL). The acquisition will be effective from April 06, 2015 and the company will acquire the assets of the division along with its employees in an all cash-deal and the same would be funded via internal accruals.
Equipped with a 98-bed facility, the CRO (formerly known as Wellquest), is located in Hyderabad and spread across 30,000 square feet. It is equipped with monitoring stations, phlebotomy stations, four-bed ICU, state-of-the-art analytical lab and capabilities of eCTD submission. It also has regulatory approvals from several bodies including USFDA and was the first CRO from India to receive GCP certification from UK-MHRA.
Indoco Remedies is engaged in the manufacturing and marketing of formulations (finished dosage forms) and active pharmaceutical ingredients (APIs) in India.
