Ipca Labs to acquire 50% stake in Avik Pharma
Avik Pharma is engaged in development, manufacturing and marketing of Active Pharmaceutical Ingredients (APIs).
New Delhi, November 18, 2013: Ipca Laboratories today said that the company has entered into an agreement with Avik Pharmaceutical to acquire 50 per cent stake in the company.
The company (Ipca) said in a filing to BSE that it has entered into an agreement with Avik Pharmaceutical Ltd to acquire 50 per cent of its paid-up equity share capital, partly through purchase of equity shares from its existing shareholders and partly through subscription to its fresh equity share capital on a preferential allotment basis, both aggregating to Rs 6.51 crore.
It is important to note that Ipca is a fully-integrated pharmaceutical company that deals in the manufacturing of over 350 formulations and 80 APIs for various therapeutic segments. On the other end, formed in 1979, Avik Pharma is a privately held company and is engaged in the development, marketing of Active Pharmaceutical Ingredients (APIs).