Ipca Labs buys ma­jor­ity stake in US firm Bayshore

BioSpectrum (India) - - FINANCE NEWS -

Mum­bai-based Ipca Lab­o­ra­to­ries Ltd has ac­quired an 80 per cent stake in US drug mar­ket­ing com­pany Bayshore Phar­ma­ceu­ti­cals LLC for $10.23 mil­lion (Rs 75 crore) in cash.

The ac­qui­si­tion will en­able Ipca to com­mer­cialise its reg­is­tered gener­ics drugs in the US. This is the sec­ond ac­qui­si­tion by Ipca Labs this year. In Jan­uary, it had bought Amer­i­can phar­ma­ceu­ti­cal com­pany Pis­gah Labs for $9.65 mil­lion.

Ipca Labs man­u­fac­tures branded and generic for­mu­la­tions, and bulk drugs. It has pre­vi­ously made sev­eral sim­i­larly-sized ac­qui­si­tions, in­clud­ing in the US.

Bayshore was founded in 2011. It sells and mar­kets its own reg­is­tered gener­ics drugs as well as those of other phar­ma­ceu­ti­cal com­pa­nies.

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