SeQuent Scientific’s JV company allots 74 lakh shares to Shasun Pharmaceuticals

SeQuent Scientific and Shasun Pharmaceuticals’ joint venture (JV) company -- Alivira Animal Health -- has allotted 74,00,000 equity shares to Shasun Pharmaceuticals in consideration for the transfer of the Shasun’s Vizag Unit. Moreover, Alivira has also allotted 21,14,165 shares to Devicam Capital LLP, an enterprise jointly owned by the promoters of Shasun Pharmaceuticals and Sequent Scientific for cash. Earlier in July 2013, SeQuent Scientific signed a Letter of Intent (LOI) with Shasun Pharmaceuticals to form a joint venture company (JVC) to develop, manufacture and sell veterinary products inclusive of both API (Active Pharmaceutical Ingredients) and formulations in the global market. SeQuent Scientific is an integrated pharmaceutical company with a global footprint headquartered in Bangalore, India which has presence in different pharmaceutical verticals including APIs, Animal Health, Analytical Services, CRAMS and specialty chemicals. Sequent is the world's largest producer of Anthelmintics and by far the strongest player in the Veterinary API business.