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Auctus Pharma Limited, a wholly owned subsidiary of Granules India Limited (GIL) has been completely amalgamated with the latter.
In a statement, Granules India, a leading pharmaceutical manufacturing firm announced that the High Court for the states of AP & Telangana had sanctioned the scheme of amalgamation, whereby Auctus Pharma stands amalgamated with GIL. A copy of the Court order was filed with the Registrar of Companies today, with the appointed date of April 1. 2013.
Granules India had acquired Auctus Pharma, a Hyderabad-based, manufacturer and seller of bulk drugs and intermediates for Rs 120 crore early this year. Auctus has two units, an API facility in the Pharmacity in Vishakhapatnam and an Intermediate facility in Hyderabad. Its product portfolio includes twelve APIs and two intermediates.
The API facility has approvals from leading regulatory agencies including the U.S. FDA, EDQM, Health Canada, KFDA and WHO-GMP.
The portfolio includes APIs in several therapeutic categories such as Antihistamine, Antihypertensive, Antithrombotic and Anticonvulsant as well as other therapeutic categories.
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