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.