Financial Daily from THE HINDU group of publications
Tuesday, Dec 17, 2002
Financial Daily from THE HINDU group of publications Tuesday, Dec 17, 2002 |
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Corporate
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Mergers & Acquisitions Orchid acquires Mano Pharma Our Bureau
CHENNAI, Dec. 16 ORCHID Chemicals and Pharmaceuticals Ltd announced the decision to acquire the Chennai-based formulations company, Mano Pharmaceuticals, and its sister company, Sali Healthcare, on a cash deal of Rs 26 crore. According to an Orchid press release, the acquisition will include the takeover of assets, brands, business and plant of Mano Pharmaceuticals and Sali Healthcare. The two companies specialise in manufacturing neuro-psychiatry, cardiovascular and anti-diabetic drugs. During the first 11 months of calendar year 2002 the companies together made turnover of Rs 28 crore. Mano has an all-India field force of 350 personnel catering to the specialist medical community. It also has an ISO 9002 certified manufacturing plant at Chennai.
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