Mumbai : Ipca Laboratories has entered into a Share Purchase Agreement (SPA) to acquire 100% paid-up share capital of Ramdev Chemical, engaged in the business of manufacturing and marketing of advanced drug intermediates, fine chemicals, custom synthesis molecules and active pharmaceutical ingredients for cash Rs 108.50 crore.
The acquisition of Ramdev Chemical will help the Company to grow its API business by adding new molecules in its Products basket with possibility of forward integrating such Products in its dosage formulations business for the world market.
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.