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The board of directors of SMS Lifesciences India on Friday considered the due diligence report and approved the acquisition of Mahi Drugs Private Ltd, an API manufacturing company, situated at JN Pharma City, Vishakhapatnam. The board approved the share purchase agreement and authorised TVVSN Murthy, Managing Director, to execute the agreement and take all steps necessary for completion of the acquisition. The stock of SMS Lifesciences closed 0.60 per cent higher at ₹417.50 on the BSE.
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