Shilpa Medicare Ltd, which had invested in Nu Therapeutics (P) Ltd last year, has now acquired a controlling stake in it.
Nu Therapeutics was established to manufacture oral fast dissolving thin strip dosage jointly with others and expects to start production shortly. Shilpa Medicare hopes the acquisition would help it penetrate niche formulation markets.
Shilpa shares were up Rs 16.20 (6.04 per cent) on the BSE at 12.55 pm today with about 34,300 shares having been traded.