Schutz Dishman Biotech becomes a subsidiary
Dishman Pharmaceuticals and Chemicals announced that Company has acquired further 50% stake in Schutz Dishman Biotech, a Joint Venture Indian Company, from the existing JV Partner i.e. SCHUTZ & CO. BETEILIGUNGSGESELLSCHAFT MBH, Germany for a consideration of EURO 300,000.Schutz Dishman Biotech (Schutz Dishman), is engaged in the business of manufacturing of Bulk Drugs, Drug formulations and performance Chemicals in India for export markets. Its plant is USFDA approved and is located in the existing campus of DIshman's Bavla manufacturing facility. The said acquisition will help the Company in backward integration for some of its existing products and for manufacturing other APIs. Presently, Company is holding 22.33% stake in Schutz Dishman and after acquisition of further 50% stake, Schutz Dishman will become subsidiary of the Company.
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