 "Genpharmasec to acquire 70% stake in DHPL in phased manner over one year")
Genpharmasec Limited (Genpharmasec) has executed a share purchase and share subscription cum shareholders' agreement (SSSA) with Derren Healthcare Private Limited (DHPL), the company said in a press release. Subsequently, Genpharmasec will acquire a 70 per cent stake in DHPL in a phased manner over a period of one year.
The acquisition will be conducted in a manner consistent with Genpharmasec's long-term strategic goals. By doing this, the company expects to create significant value.
The transaction includes a 70 per cent stake in DHPL covering all manufacturing plants along with land and buildings. With a diversified portfolio of more than 100 approved products, DHPL also has a strong research and development department with 20 additional products in the pipeline.
What is DHPL?
DHPL is engaged in the development of pharmaceutical products in the field of generic and innovative finished formulations. To this end, the company conducts specialised research. The company has approvals from Gujarat FDA and WHO GMP certification as it works to obtain approvals from regulators of several international markets.
What is Genpharmasec Limited?
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Incorporated in 1992, Generic Pharmasec Limited started as a manufacturer and trader of organic and inorganic chemicals, dyes, and pigments. 2018 onwards, the company shifted towards buying, selling, and distributing various types of pharmaceutical, medicinal, and medicated preparations.
Speaking about the development, promoter and director of Genpharmasec Limited, Rajesh Mirchumal Sadhwani, said, Today marks a landmark occasion for Genpharmasec Limited [The Company] with our Board approving the execution of Definitive Agreement with Derren Healthcare Private Limited and its Shareholders as a first significant step towards our long-term strategic move for diversification for our journey beyond.
Our aim is to build multiple growth engines and take the company to the next level in the global arena with more substantiative participation, Sadhwani added.