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ANG Lifesciences spurts after acquisition

Capital Market 

ANG Lifesciences India hit an upper circuit limit of 5% at Rs 521.65 after the company said it will invest in the equity shares of ANG Healthcare India.

ANG Lifesciences India will acquire 2.6 lakh equity shares of ANG Healthcare India for approximately Rs 4 crore. Following the acquisition of 100% stake, ANG Healthcare India will become wholly-owned subsidiary of ANG Lifesciences India.

ANG Healthcare India is a marketing company selling critical care products to hospitals and nursing homes in therapeutic segments of anti-biotic, anti-infective, anti-malarial, pain management etc. The company has got presence all over India through a network of super stockists and 150 stockists along with a strong sales force of about 60 personnel and expanding at a fast pace.

"The acquisition will help company in its brand-building, domestic branding and direct marketing initiative for the purposes of staying close to the customer," ANG Lifesciences India said in a statement.

ANG Healthcare India was incorporated on 25 April 2016. In FY 2021-22, it reported revenue of Rs 16 crore.

ANG Lifesciences India is pharmaceutical manufacturing company. Its product portfolio includes dry powder injection, liquid injection, hard gelatin capsule, tablet beta lactum, tablets, liquid suspension/syrup, ointment/creams and soft gelatin capsules.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, November 24 2021. 14:43 IST