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Unichem to acquire 20% stake in Optimus group for Rs 120 cr

Press Trust of India  |  Mumbai 

Pharma firm, Monday announced that the company has entered into an agreement to acquire 20 per cent equity stake in the and intermediate business of based group.

The acquisition value is Rs 120 crore, a company statement said.

The transaction will give Unichem access to Optimus' US approved facilities, and at the same time, will gain from the extensive knowledge base and industry best practices of Unichem, making the deal a win-win for both Unichem and Optimus, the release said.

Unichem engaged in business manufactures and markets a large basket of generic pharmaceutical formulations in several regulated markets across the world. The company has deep expertise in research, product development, process chemistry and of complex as well as dosage forms.

The group operates as manufacturer of formulations, API's and intermediates for Indian and other regulated/RoW markets. Presently, the group's API vertical has its facilities located in and Vishakhapatnam, having specialisation in novel/polymorph chemistry and process engineering.

The group's API facilities have obtained a wide range of certifications and approvals.

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

First Published: Mon, November 05 2018. 18:05 IST