Plethico Pharma to buy 20% stake in Tricon Holdings arm

Plethico Pharmaceuticals - a global pharma company with a strong emphasis on herbal and neutraceutical segments -  would acquire 20% stake in subsidiary of Tricon Holdings Hong Kong - a leading company dealing in pharma retail with sourcing base in the UAE.

"This acquisition would help Plethico to consolidate its position in the CIS market, said Chirag Patel, CEO and whole time director of Plethico Pharma.

"CIS is largely a  credit hungry market and the only real cash business in CIS is retail pharmacy and hence our long standing desire of owning a share in CIS retail pharmacy has been fulfilled," added Patel.