Bilcare has rallied 6% at Rs 166 on reports that United Drug has completed the acquisition of the UK and US clinical services of Bilcare Global Clinical Supplies from the company.
On August 20, Bilcare Ltd had signed an agreement with United Drug plc for the sale of its global clinical supplies (GCS) businesses in the US and the UK for $61 million (approx Rs 340 crore).
"As per the agreement, United Drug will acquire Bilcare's GCS businesses in the US and UK for $ 61 million while Bilcare will retain its GCS business in Asia," Bilcare said in a filing to the BSE.
The stock opened at Rs 160 and hit a high of Rs 168 on the BSE. Around 54,000 shares have changed hands on the counter in morning trades against an average 202,000 shares that were traded daily in past two weeks.
