Bangalore-based Sami Labs will sell its domestic nutraceutical brands to Pune-based Twilight Litaka Pharma. | |
| According to Neeraja Shetty, CEO-formulation, Sami Labs, the company has signed a memorandum of understanding (MoU) with Twilight Litaka Pharma to sell it 17 brands and also give exclusive rights to manufacture and market them only in the domestic market. |
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| Without disclosing the sale proceeds, she said, "The rights to sell in overseas market lies with Sami Labs and Twilight Litaka Pharma will buy patented ingredients to manufacture nutraceutical product." |
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| By doing this, Sami Labs plans to shut its entire nutraceutical division which had 80-100 people and since its inception in 2002 earned revenues of Rs 7-8 crore per annum. |
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| Twilight Litaka is a contract manufacturer of drugs and formulations in the form of tablets, capsules, ointment and liquids. |
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| The company's products cover major therapeutic segments like analgesics "� anti-inflammatory, anti-asthmatic, antibiotics, anti-bacterials, vitamins, haematinics and cardiovascular drugs. |
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| Twilight Litaka Pharma on the other hand, is expected to absorb entire Sami Labs' nutraceutical division staff and is expected to utilise its distribution network to grow its business, said Shetty. |
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