Natco Pharma's board approves acquiring 1% in its Canadian subsidiary

Drug major Natco Pharma on Friday said its board has approved acquiring about 1 per cent stake in its Canadian subsidiary.

The company, however, did not disclose the value of the deal.

"The board of directors of the company at their meeting approved to acquire 0.96 per cent stake in Natco Pharma (Canada) Inc., after this acquisition Natco Pharma (Canada) Inc., (will) become a wholly owned subsidiary company of Natco Pharma Ltd," Hyderabad-based Natco Pharma said in a regulatory filing.

The company did not share any more details.

Stocks of Natco Pharma were trading 0.74 per cent lower at Rs 810.85 apiece on BSE.