Cipla buys two facilities of Okasa for Rs 100 cr

The Mumbai-based pharma company Cipla Ltd has acquired two facilities in Goa and Maharashtra for about Rs 100 crores from two companies - Okasa Private Limited and Okasa Pharma.
 
“Medispray Laboratories Private Limited, a wholly owned subsidiary of Cipla, at its board meeting held on September 5, 2014 approved the acquisition of two manufacturing undertakings. A significant portion of the capacities of the two undertakings are dedicated for the manufacture of Cipla's products. Acquisition of the aforesaid undertakings is expected to yield operational synergies,” Cipla said in a BSE filing.
 
While Cipla paid Rs 29 crores for one facility, it bought another plant for Rs 71.93 crores. “The first manufacturing facility located at Goa is owned by Okasa Private Limited and the second manufacturing facility located at Satara (Maharashtra) is owned by Okasa Pharma Pvt Ltd. Entities controlled by relatives of the promoters hold majority interest in the companies which own the aforesaid undertakings,” said the company.