The company announced that its wholly owned subsidiary Granules Pharmaceuticals has entered into an agreement with USpharma to acquire 12.5% of its stake.
Granules India Ltd., today announced that its wholly owned subsidiary Granules Pharmaceuticals, Inc.,(GPI} has entered into an agreement with USpharma, based in the USA, to acquire 12.5% of its stake. This investment will enable Granules to participate in product selection and have right of first refusal to market the select products which are under development by USpharma.
USpharma is a development-stage pharmaceutical company specializing in research, deve lopment and manufacture of high entry-barrier generic pharmaceuticals, including controlled-release, controlled substance and patent-challenge products. USpharma in collaboration with manufacturing partners had submitted five ANDAs with Paragraph IV certifications, out of which four ANDAs have already been out licensed to Granules exclusively.
USpharma has formulation development and manufacturing facilities in Philadelphia, Pennsylvania, USA, Mumbai,India and cGMP analytical laboratory in Kansas City, Missouri,USA
"The agreement with USpharma complements our internal product development program, and expands our product portfolio by leveraging external product development capabilities. The successful development of limited competition products by USpharma provides further long-term growth for the Company. We are impressed with US Pharma's product development capabilities with niche pipeline, and firmly believe that these products represent a substantial commercial opportunity," said Mr. Krishna Prasad Chigurupati, Chairman and Managing Director, Granules India Ltd.
Stock price:
Granules India Ltd is currently trading at Rs. 150.55, up by Rs. 5.2 or 3.58% from its previous closing of Rs. 145.35 on the BSE.
The scrip opened at Rs. 147 and has touched a high and low of Rs. 151.15 and Rs. 145.1 respectively. So far 203637(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 3153.98 crore.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 164.45 on 01-Dec-2015 and a 52 week low of Rs. 84.1 on 14-Jul-2015. Last one week high and low of the scrip stood at Rs. 149.1 and Rs. 141.2 respectively.
The promoters holding in the company stood at 51.08 % while Institutions and Non-Institutions held 8.11 % and 40.81 % respectively.
Granules India Ltd., today announced that its wholly owned subsidiary Granules Pharmaceuticals, Inc.,(GPI} has entered into an agreement with USpharma, based in the USA, to acquire 12.5% of its stake. This investment will enable Granules to participate in product selection and have right of first refusal to market the select products which are under development by USpharma.USpharma is a development-stage pharmaceutical company specializing in research, deve lopment and manufacture of high entry-barrier generic pharmaceuticals, including controlled-release, controlled substance and patent-challenge products. USpharma in collaboration with manufacturing partners had submitted five ANDAs with Paragraph IV certifications, out of which four ANDAs have already been out licensed to Granules exclusively.
USpharma has formulation development and manufacturing facilities in Philadelphia, Pennsylvania, USA, Mumbai,India and cGMP analytical laboratory in Kansas City, Missouri,USA
"The agreement with USpharma complements our internal product development program, and expands our product portfolio by leveraging external product development capabilities. The successful development of limited competition products by USpharma provides further long-term growth for the Company. We are impressed with US Pharma's product development capabilities with niche pipeline, and firmly believe that these products represent a substantial commercial opportunity," said Mr. Krishna Prasad Chigurupati, Chairman and Managing Director, Granules India Ltd.
Stock price:
Granules India Ltd is currently trading at Rs. 150.55, up by Rs. 5.2 or 3.58% from its previous closing of Rs. 145.35 on the BSE.
The scrip opened at Rs. 147 and has touched a high and low of Rs. 151.15 and Rs. 145.1 respectively. So far 203637(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 3153.98 crore.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 164.45 on 01-Dec-2015 and a 52 week low of Rs. 84.1 on 14-Jul-2015. Last one week high and low of the scrip stood at Rs. 149.1 and Rs. 141.2 respectively.
The promoters holding in the company stood at 51.08 % while Institutions and Non-Institutions held 8.11 % and 40.81 % respectively.
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