Orchid Chemicals and Pharmaceuticals (OCPL) has received Competition Commission of India’s (CCI) approval for proposed sale of its certain assets to Hospira Healthcare.
According to the deal, OCPL has agreed to offload its Betaculum API (Active Pharmaceutical Ingredients) business along with its manufacturing facilities, as also another manufacturing facility in Aurangabad and an R&D facility in Chennai to Hospira Healthcare India (HHIPL), a 100% subsidiary of US-based Hospira Inc. However, the deal excludes certain oral formulation businesses of OCPL as also some API assets.
Orchid Chemicals & Pharmaceuticals is a pharmaceutical company engaged in development and manufacture of active pharmaceutical ingredients (APIs) and finished dosage forms. It is also engaged in research of new drugs. The company was incorporated in the year 1992 as a 100% export-oriented unit (EOU).
