Elder Pharmaceuticals has surged 4% to Rs 348 after the company said its UK arm NutraHealth has acquired Max Healthcare Ltd to re-enter over-the-counter (OTC) pharmaceutical business for an undisclosed amount.
Max Healthcare is an OTC business which owns a range of marketing authorisations and provides own label and branded OTC medicines and products to a broad range of customers, Elder Pharma said in a statement.
The acquisition will help in extending and enhancing the company's OTC product range, it added.
Max Healthcare will be a subsidiary of NutraHealth and will be managed in parallel with its subsidiary Brunel Healthcare Manufacturing Ltd, Elder Pharma said.
Max Healthcare is predominantly an outsourced operation with most of its manufacturing taking place in India.
The stock opened at Rs 338 and hit a high of Rs 352 on NSE. A combined 141,663 shares have changed hands on the counter till noon deals on NSE and BSE.
Max Healthcare is an OTC business which owns a range of marketing authorisations and provides own label and branded OTC medicines and products to a broad range of customers, Elder Pharma said in a statement.
The acquisition will help in extending and enhancing the company's OTC product range, it added.
Max Healthcare will be a subsidiary of NutraHealth and will be managed in parallel with its subsidiary Brunel Healthcare Manufacturing Ltd, Elder Pharma said.
Max Healthcare is predominantly an outsourced operation with most of its manufacturing taking place in India.
The stock opened at Rs 338 and hit a high of Rs 352 on NSE. A combined 141,663 shares have changed hands on the counter till noon deals on NSE and BSE.
