Pfizer is all set to acquire RFCL’s animal healthcare division from ICICI Venture in a deal estimated to be at $75 million (approximately Rs 375 crore), according to people familiar with the development. On Monday, ICICI Venture announced that it had signed a definitive agreement to sell RFCL’s (erstwhile Ranbaxy Fine Chemicals) Vetnex Animal Health
to Pfizer’s animal healthcare outfit, Pfizer Animal Health.
However, I-Venture, a private equity arm of ICICI, did not disclose the terms of the agreement, including the deal size citing confidentiality reasons. It said Pfizer was expected to complete the acquisition by August 2009. ICICI Venture bought RFCL from Ranbaxy in December 2005.
RFCL was Ranbaxy’s fine chemicals, diagnostics and animal healthcare business, which was renamed RFCL in December 2006. Apart from the animal healthcare division, it also had Diagnova (diagnostics) and Rankem (fine chemicals). The animal healthcare division was de-merged into Vetnex earlier this year and was on the block since then.
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| Dr. Reddys Lab | 1232.25 |
| Cipla | 1228.90 |
| Zydus Lifesciences | 936.35 |
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