Shasun Pharmaceuticals has concluded the sale of its Velachery property for a gross consideration of Rs 29 crore. The company has taken this step pursuant to shareholders' approval on July 29, 2011.
Recently, the company had received an offer from Caduceus Asia Mauritius (CAML), an investment arm of US-based OrbiMed, a global healthcare-dedicated investment firm to invest Rs 50 crore into the company at a share price of Rs 76 per share. This would translate into an 11.93% stake for the new investor post allotment.
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.
