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Ipca Labs arm acquires 80% stake in US-based Bayshore Pharma for $10.286 mn

The acquisition of a majority stake in Bayshore will allow Ipca to commercialise its registered generic drug products in the US market

BS Web Team  |  New Delhi 

IPCA
IPCA

Mumbai-based pharma company on Wednesday said its subsidiary Ipca Pharmaceuticals Inc, USA, had acquired 80 per cent share capital of New Jersey-headquartered generic drug major Llc for $10.286 million.

“The company's wholly-owned subsidiary, Ipca Pharmaceuticals Inc, USA, has acquired, on 2 October, 2018, 80 per cent share capital of LLC, a New Jersey limited liability company @ $10.286 millions,” informed stock exchanges in a statement.

Bayshore had reported a total income of $7.05 million and earnings before interest, depreciation tax and amortisation (Ebidta) of $0.56 million, for the year ended December 31, 2017.

The acquisition of a majority stake in Bayshore will allow the company to commercialise its registered generic drug products in the

First Published: Wed, October 03 2018. 09:21 IST
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