Shasun signs a deal with SeQuent Scientific
The deal is for forming a joint venture firm to develop and sell veterinary products.
New Delhi, March 7, 2014: Shasun Pharmaceuticals has inked a pact with SeQuent Scientific to start a joint venture company with a view to develop and sell veterinary products in global markets.
The company said in a filing to the Bombay Stock Exchange (BSE) that it has signed the joint venture agreement with SeQuent to develop, manufacture and sell veterinary products including both API (active pharmaceutical ingredients) and formulations to cater to the global market.
In line with the joint venture agreement, the company has also executed a slump sale agreement transferring its Vizag facility to the JV firm.
It may be noted here that SeQuent and Shasun will hold 73 per cent and 27 stake in the JV firm respectively which is expected to be operational in the first quarter of 2014-15.