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Abbott India gets HC approval for scheme of amalgamation

16 Jul 2011 Evaluate

Abbott India has received an approval from High Court of Bombay, on July 15, 2011 for the proposed scheme of amalgamation of Solvay Pharma India, the transferor company with Abbott India, the transferee company.

Earlier, Abbott India and Solvay Pharma India’s, shareholders had approved the merger of Solvay with Abbott in India, in line with the global integration strategy. The board of directors of both the companies, met in November last year, and approved the same. Abbott announced the global acquisition of the Solvay Pharmaceuticals business in September 2009.

Abbott India has successfully developed brands like Digene, Cremaffin, Epilex, Zolfresh and Obimet. It has also brought various global products to Indian consumers such as Brufen, Prothiaden, Ganaton, Sevorane, Thyronorm and Leptos.

Abbott India Share Price

25797.15 -65.00 (-0.25%)
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