Eiko Lifesciences touches roof on inking pact to acquire 25.01% stake in Reflux Pharmaceuticals

Eiko Lifesciences is currently trading at upper circuit limit of Rs. 74.60, up by 3.55 points or 5.00% from its previous closing of Rs. 71.05 on the BSE.

The scrip opened at Rs. 73.98 and has touched a high and low of Rs. 74.60 and Rs. 73.00 respectively. So far 58227 shares were traded on the counter.

The BSE group ‘X’ stock of face value Rs. 10 has touched a 52 week high of Rs. 101.00 on 30-Jan-2023 and a 52 week low of Rs. 35.25 on 23-Aug-2022.

Last one week high and low of the scrip stood at Rs. 76.99 and Rs. 68.55 respectively. The current market cap of the company is Rs. 62.04 crore.

The promoters holding in the company stood at 23.73%, while Non-Institutions held 76.27% stake in the company.

Eiko Lifesciences has entered into a Share Subscription Agreement (SSA) with Reflux Pharmaceuticals (RPPL) in connection with the acquisition of up to 19,20,000 Equity Shares being 25.01% Equity stake in RPPL in one or more tranches for a consideration of Rs 7.00 crore.

The said partnership with RPPL would benefit the company in co-developing, marketing and sourcing key Active Pharma Ingredients (APIs) and Speciality Chemicals products. Also, this partnership will help the Company to set its footprints in various Geographic areas.

Reflux Pharmaceuticals is a private limited company involved in the manufacturing and marketing of its own Active Pharmaceutical ingredients and Intermediates (APIs). The various products manufactured by RPPL are Tolfenamic Acid, Flavoxate HCI, Diacerein, Albendazole, Carprofen, Sulindac etc.

Eiko LifeSciences is a leading manufacturer, supplier and exporter of Speciality Chemicals and Pharma Intermediates in India and Globally.