Breaking News

You are here » Indian-Commodity  :  Top News  :  Ipca Laboratories acquires 100% stake in Pisgah Labs

17-Jan2018

Ipca Laboratories acquires 100% stake in Pisgah Labs

Ipca Laboratories has acquired 100% share capital of Pisgah Labs Inc., a North Carolina Corporation, Old Hendersonville Highway, Pisgah Forest, North Carolina, USA (Pisgah). The acquisition has been done by Ipca Pharmaceutical Inc., USA (company's wholly owned subsidiary) and Onyx Scientific, U.K (Onyx) (company's wholly owned step down subsidiary) for $9.65 million free of debt.

Pisgah Labs Inc., North Carolina, USA was originally founded in the year 1981 as a contract manufacturer and developer of active pharmaceutical ingredients (APIs) and intermediates. For the financial year ended April 30, 2017, Pisgah had a total income of $2.89 million and EBIDTA of $1.14 million.

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.



Related News

View all news

Gold futures decline on firming dollar

Gold futures declined on MCX as traders await the minutes from the US Federal Reserve's latest policy meeting for fresh clues on the pace of interest rate hikes. Besides, a firming dollar against some......

Coriander futures edge higher on improved demand

Coriander futures edged higher on NCDEX as participants built up fresh positions on the back of improved demand at the spot market. Further, tight supplies from major producing regions also fuelled the......

Gold end higher on Tuesday

Gold futures ended higher on Tuesday amid weak dollar against basket of major currencies, ahead of the release of minutes of Federal Open Market Committee's September meeting. Gold futures for December......

Top News

View all news

Hero MotoCorp achieves best ever sales performance in Q2 FY19

Hero MotoCorp has achieved its best-ever sales performance for the second quarter of any financial year, selling 21,34,051 units of two-wheelers in Q2 FY19.For the period April-September 2018, Hero MotoCorp......

Mahindra CIE Automotive reports 74% rise in Q3 net profit

Mahindra CIE Automotive has reported results for third quarter ended September 30, 2018.The company has reported 73.80% rise in its net profit at Rs 42.58 crore for the quarter under review as compared......

Infosys crosses $2 billion large deal signings in Q2 FY19

Infosys has crossed $2 billion large deal signings in Q2 FY19. Besides, the company's digital revenues stood at $905 million in Q2 FY19 (31.0% of total revenues), year-on-year growth of 33.5% and sequential......