Torrent Pharma gain entire stake in Zyg Pharma
Torrent Pharmaceuticals earn 100 percent equity stake in Zyg Pharma Pvt Ltd, a company engaged in manufacturing various dermatological formulations like creams, ointments, gels, lotions, solutions, for undisclosed price.
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Torrent would fund the acquisition through internal accruals. The transaction between two companies has been approved by the boards of directors. The transaction closure is subject to customary closing conditions and requisite regulatory and other approval, and is expected to close by August 2015.
Zyg Pharma is part of the Encore Group, promoted by the Merchant family. This is engaged into specialty pharmaceutical business for over 50 years. The manufacturing facility is located at Pithampur, (Indore) and is approved by various regulatory authorities including US FDA, TGA, Australia.
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The company has capabilities for on site development, analytical method development and QC laboratory with separate areas for chemical, instrumental and micro sections. The company has been a manufacturing partner to several international companies in India and it has also build a successful international business through partners in regulated markets as well as in emerging markets.
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