Dishman Pharma up 4% on French firm acquisition

Dishman Pharmaceuticals and Chemicals is trading higher by 4% at Rs 49.25 after the company announced the acquisition of Creapharm Parenterals, a subsidiary of France based Greapharm Group.

The acquisition was done through its wholly owned subsidiary company, Carbogen Amcis AG., Switzerland. The amount of deal was not disclosed by the company.

“Creapharm Parenterals is a contract development and manufacturing organization specializing in liquid, semi-solid and injectable aseptic dosage forms,” the pharmaceutical company said in a filing to the stock exchanges.

The acquisition will extend CARBOGEN AMCIS' (changed its name as part of this acquisition) comprehensive range of development and manufacturing services by adding complementary formulation, lyophilization services and sterile GMP capabilities for the fast supply of drug products, including highly potents, for preclinical studies and clinical trials (Phase I, II & III), it added.

 

The stock opened at Rs 48.50 and hit a high of Rs 49.55 on the National Stock Exchange. A combined 28,327 shares have changed hands on the counter so far on both the NSE and BSE.