Sun Pharma, Lupin, Cadila Healthcare and Torrent Pharma on Thursday announced they have subscribed to partnership interest in healthcare services firm ABCD Technologies at a cost of Rs 40 crore each.
The four pharmaceutical companies will acquire 20% stake each in ABCD Technologies, which will be renamed as IndoHealth Services.The objective of acquisition is to facilitate, enable and promote efficiency and Good Distribution Practices including digitizing healthcare infrastructure in India, in support of the National Digital Health Mission of Government of India.
ABCD Technologies was incorporated on 10 February 2021. The entity is a newly incorporated limited liability partnership (LLP) and has not commenced any business activities.
Sun Pharmaceutical was down 0.28% at 575.8, shares of Lupin were trading 1.11% lower at Rs 980.8, Cadila Healthcare declined 0.27% to Rs 418.85 while Torrent Pharmaceuticals was up 0.19% at Rs 2449.45 on BSE.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
