Arch Pharmalabs limited, a pharmaceutical major operating in the API and Intermediates business today announced the acquisition of a majority stake in Benzochem Lifesciences Pvt. Limited for an undisclosed amount.

Benzochem Lifesciences Pvt. Limited is a privately held company, engaged in the manufacture of Active Pharmaceutical Ingredients and Intermediates in the Oncology and Anti-Malarials space. Benzochem Lifesciences has a manufacturing facility in Tarapur, around 120 kms away from Mumbai. The Oncology facility commissioned end of last year has been built to USFDA compliant standards. Benzochem Lifesciences, closed the last financial year with a topline of around Rs.150 Crores.

Commenting on the acquisition Mr. Ajit Kamath, Chairman & Managing Director- Arch Pharmalabs Limited said that “The acquisition of Benzochem Lifesciences allows us rapid access to a newly built cGMP compliant facility for Oncology drugs and together with the Anti-Malarial segment rounds up the therapeutic offerings from Arch to include practically all therapeutic segments. Moreover, the IP bank that has been created by Benzochem together with regulatory filings and registrations in various countries will only help us fast forward our plans to enter into these two key therapeutic segments.”

The acquisition has been funded out of internal accruals and the proceeds of a recently concluded Rights Issue by Arch Pharmalabs Ltd. Further, Arch Pharmalabs has also a development pipeline for various products in the Oncology segment and this investment will help it to channelise and commercialise all the activities at this facility. This acquisition will enhance the consolidation the company is undertaking in the API and Intermediates segment.

Sourced From: Adfactors Public Relations Pvt Ltd

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