Intas pharma seeks Gujarat HC sanction for merger of four group companies

Ahmedabad-based Intas group has sought sanction of the Gujarat High Court for amalgamation of four group companies.

A petition in this regard has been filed by the Company in the High Court for amalgamation of its four group companies under section sections 391 to 394 of the Companies Act, 1956. The four companies include Intas Pharmaceuticals Ltd, Astorn Reserch Ltd, Intas Biopharmaceuticals Ltd and Celestail Biologicals Ltd.

Intas Pharmaceuticals Ltd is a global pharmaceutical formulation development, manufacturing and marketing company headquartered in Gujarat, India. It has presence in over 50 countries worldwide and has made successful forays into contract manufacturing and contract marketing tie-ups across the world predominantly in North America, Europe and Latin America.

Astron Research Ltd is a pharmaceutical formulation research and development organization accredited by USFDA.

It is fast growing pharma contract research organisation (CRO). The Global turnover registered a growth of 40 per cent in the current financial year with the contribution of European market being 50 per cent.

The company is capable of handling Formulation and Analytical Research of Solid Orals, Injectables, Lyophilised injectables, Topicals, Effervescent tablets, Specialty medicaments like Potent drugs and Oncology products.

While Intas Biopharmaceuticals Limited (IBPL) is a fully integrated biopharmaceutical company specialising in research & development (R&D) and manufacturing of biopharmaceutical products with a special focus on Oncology (Cancer).

Its capabilities include manufacturing bio-recombinant and DNA based products and development of Ecoli and cell culture based technology.

Celestail Biologicals Ltd is a subsidiary of IBPL which focuses on the manufacturing and marketing of plasma-derived products mainly albumin, immunoglobulin, and coagulation factors. Celestial Biologicals plans to invest heavily in creating south Asia’s largest plasma fractionation facility which would cater to Indian requirements as well as that of SAARC countries.

Justice Abhilasha Kumari has ordered the parent company to hold the meeting of all shareholders and secured and unsecured creditors and get their votes on the proposal of amalgamation of the four group companies.

A detailed report of the meeting is to be submitted to the court by the company. The court has also asked the company to publish the details of the amalgamation in leading newspapers of the state.