Tonira Pharma has received an approval for merger of the company with Ipca Laboratories with effect from April 01, 2011 being the appointed date through a scheme of amalgamation. The board at its meeting held on September 17, 2011 has considered and approved the same. However, the proposed scheme of amalgamation will be subject to all necessary permissions and approvals, as may be required.
Further, the scheme envisages an exchange ratio of six equity shares of Rs 2 each fully paid-up of Ipca Laboratories for every one hundred equity shares of Rs 10 each fully paid up of Tonira Pharma. The exchange ratio is based on the joint valuation report made by Natvarlal Vepari & Company, Chartered Accountants and G. M. Kapadia & Company, Chartered Accountants.
Tonira Pharma is engaged in the business of manufacturing and marketing of Active Pharmaceutical Ingredients (APIs) and intermediates. Tonira undertakes contract synthesis both on exclusive and non-exclusive basis. The company has the capability to provide contract research and manufacturing services to its customers.
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. | 1504.25 |
Dr. Reddys Lab | 6263.70 |
Cipla | 1406.25 |
Zydus Lifesciences | 948.20 |
Lupin | 1615.85 |
View more.. |