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Our Bureau

Hyderabad , June 8

GULF Oil Corporation Ltd (GOCL) has informed the stock exchanges that it has acquired the manufacturing facility of a bulk drug unit located at Hyderabad under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The unit is closed since 1996.

According to the company, renovation and upgradation of the bulk drug unit to cGMP standards is under way and it expects the manufacturing operations to commence in phases from the end of the second quarter of the current year.

The plant would be producing active pharmaceutical ingredients (APIs) and speciality chemicals that were developed by the company in its research & development centre in Hyderabad.

More Stories on : Mergers & Acquisitions | Pharmaceuticals | Petroleum | Securitisation

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