M&A

M&A

SAI Parenterals acquires 75% stake in Australia’s Noumed Pharma for Rs.125-Cr

Express Pharma  

Hyderabad-based, IPO bound pharmaceuticals firm SAI Parenterals Ltd (SPL) has acquired a 74.6% stake in Noumed Pharmaceuticals , an Adelaide, Australia-based pharmaceutical company, for INR 125 crore.Noumed recorded AUD 60 million (about INR 352 Cr) in revenue and supplies private label over-the-counter (OTC) products to pharmacy chains across Australia and New Zealand. The company is setting up a manufacturing facility in Adelaide with an investment of AUD 53 million. Noumed has a portfolio of over 451 product dossiers across therapeutic categories.SPL has filed papers to raise funds through an IPO comprising a fresh issue of INR 285 crore and an offer for sale of 3,500,000 equity shares by existing shareholders.