Drug firm Ipca Laboratories Wednesday said it has entered into a pact to buy Maharashtra-based Ramdev Chemical for Rs 108.5 crore.
The company has entered into a share purchase agreement (SPA) to acquire 100 per cent paid-up share capital of Ramdev Chemical Pvt Ltd (RCPL), Ipca Laboratories said in a regulatory filing.
RCPL is engaged in manufacturing and marketing of advanced drug intermediates, fine chemicals, custom synthesis molecules and active pharmaceutical ingredients (APIs).
The acquisition will help the company grow its API business by adding new molecules with possibility of forward integrating such products in its dosage formulations business for the global markets, it added.
RCPL's registered office and manufacturing unit is located in the Palghar district of Maharashtra.
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