SeQuent completes acquisition of Lyka's animal health biz

Drug firm SeQuent Scientific has said its subsidiary Alivira Animal Health has completed the acquisition of animal health business of Lyka Exports.
The consolidation will be effective from the third quarter of FY 16, SeQuent Scientific said in a filing to BSE.
"The acquisition...Includes all IPR, sales, marketing and distribution network with related employees, business contacts, assets and liabilities," it added.
In 2014-15, Lyka's animal health business reported a turnover of Rs 23.5 crore.
Established in 2002, SeQuent Scientific is an integrated pharmaceutical company operating in the domains of Animal Health (API and formulation) and Human health (API). It has seven manufacturing facilities based in India and Turkey.

Shares of SeQuent Scientific were today trading at Rs 970 per scrip in the afternoon trade on BSE, up 0.26 per cent from its previous close.