IPCA Pharmaceuticals Inc Acquires 80% Share Capital of Bayshore Pharmaceuticals LLC.

Deepthi | Myequity news | Date : 03-10-2018 10:40:00 IST

IPCA Pharmaceuticals Inc Acquires 80% share capital of Bayshore Pharmaceuticals, LLC (Bayshore), a New Jersey limited liability company, USA 788 Morris Turnpike, Suite 200, Short Hills, New Jersey, USA. The acquisition of the majority stake in Bayshore by WOS will enable the Company to commercialize its registered Generics Drug Products in the US market, through this entity.

The acquisition was completed upon signing of Stock Purchase Agreement and transfer of shares in the name of the Company's WOS on 2nd October, 2018 in USA. US$ 10.286 million paid in cash for this acquisition of 80% of the shareholding of the Bayshore Pharmaceuticals.

Bayshore Pharmaceuticals LLC (Bayshore), New Jersey, USA was originally founded in the year 2011 as a sales and marketing company of FDA approved generics drug products in the United States of America. Bayshore is currently engaged in the selling & marketing of its own registered generics drug products as well as the registered generics drug products of other pharmaceutical companies.

About IPCA:

IPCA is a fully-integrated Indian pharmaceutical company manufacturing over 350 formulations and 80 APIs for various therapeutic segments. Based in Mumbai, India, it produces Theo bromine, Acetylthiophene, and P-Bromo Toluene as Active Pharmaceutical Ingredients.

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