Granules India to buy Auctus Pharma for Rs 120 crore:
Tablet maker Granules India has entered into an agreement to acquire Auctus Pharma, a manufacturer of Active Pharmaceutical Ingredients (APIs), for Rs 120 crore.
"The acquisition of Auctus fits into our strategy of being a fully integrated manufacturer, while diversifying our product portfolio by adding high-value products with significant market demand. Auctus provides Granules with a meaningful API platform with a US FDA approved site to strengthen our finished dosage division,’ Krishna Prasad, Managing Director of Granules India, said in a release issued on Monday.
Auctus manufacturing units:
Hyderabad-based Auctus has two manufacturing facilities, an API facility at Pharmacity in Visakhapatnam and an Intermediate facility in Hyderabad. The API facility has approvals from leading regulatory agencies, including the US FDA.
Auctus’ product portfolio includes 12 APIs as well as key intermediates of those APIs.
Auctus product portfolio:
The portfolio includes APIs in several therapeutic categories such as Antihistaminic, Antihypertensive, Antithrombotic and Anticonvulsant as well as other therapeutic categories.
Auctus currently sells its APIs and intermediates to customers in 50 countries. The team and assets from the acquisition will initially operate as a separate division with Granules.
The acquisition process would be completed in the next three to six months, the Hyderabad-based company said in the release.
R&D unit in Hyderabad
Granules also announced the opening of a 10,000 sq. ft. R&D facility in Hyderabad.
The new R&D unit will focus on full-scale generic API development and will supplement the company’s existing R&D facility in Pune which currently focuses on sustainable technology development.
Source: The Hindu Business Line
About Auctus Pharma:
Auctus Pharma Limited (APL) is amongst India’s top manufacturers of Active Pharmaceutical Ingredients (APIs) and Drug Intermediates for both Domestic and International customers. Our other successful group company (Neo Medichem Pvt. Ltd) was merged with Auctus Pharma Limited. This move shall add strength and synergies to the company, which is promoted by a dynamic team of techno-commercial professionals with extensive experience in the line.
Auctus Pharma operates from their state of the art manufacturing facilities, out of which one unit I situated near Hyderabad and other one at Visakhapatnam. The Company has an R&D intensive work ethic as a result of the futuristic and progressive outlook of the promoters. The full fledged R & D laboratory is therefore, constantly updated with the latest equipment and is always completely geared up for every requirement.
Using their vast and varied expertise, Auctus Pharma manufactures Active Pharmaceutical Ingredients (APIs), Fine Chemicals and Intermediates for their wide clientele across the world
I will not be so attracted by movement today... as there may be plenty of intraday traders.... but those who are holding Granules for long term.... this is a great great news...
ReplyDeleteAnd as mentioned by management, it will take only 3-6 months for them to complete the acquisition process, the fruits of this acquisition will be available soon... :-)
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