Ipca Laboratories today said its UK subsidiary has acquired Onyx Research Chemicals, the holding company of Onyx Scientific Ltd, a contract manufacturing organisation (CMO).
Ipca Laboratories UK Ltd has acquired 100% of the share capital of Onyx Research Chemicals Ltd, the company said in a filing to the Bombay Stock Exchange (BSE).
"The acquisition brings together two contract manufacturing organisations to better serve their customers on a global basis," it added.
Onyx Scientific has been a 'chemistry solutions provider' for over a decade and will continue to operate from its Silverbriar facility under its own trade name, Ipca said.
"Onyx's capabilities in chemistry services for medicinal, pre-clinical and phase I/II programmes will dovetail effectively with Ipca's capabilities in supporting phase II to commercial scale programmes," it added.
Shares of Ipca Laboratories were trading at Rs 323.15 apiece in the afternoon on the BSE today, up 0.67% from their previous close.