Ipca Laboratories acquires formulation dossier registration holding companies in Australia and New Zealand

Ipca Laboratories Ltd has announced that the Company has acquired 100% shareholding of a small formulation product dossier registration-cum-distribution Company in Australia. This company is currently holding 5 formulation registration dossiers in that country. This Australian Company is also having a wholly owned formulation dossier registration - cum - distribution Company in New Zealand currently holding 3 formulation registration dossiers in New Zealand.

Acquisition of these Companies will help the Company in strengthening its existing formulations business in Australia and New Zealand.

The stock was trading at Rs.696, up by Rs.8.30 or 1.21%. The stock hit an intraday high of Rs.700 and low of Rs.680. The total traded quantity was 2388 compared to 2 week average of 14117.

Source : Equity Bulls

Keywords