Granules India to buy stake in US firm
Granules Pharmaceuticals Inc has agreed to acquire 12.5 per cent stake in USpharma.
Hyderabad: City-based pharma company Granules India on Thursday that its US-based subsidiary Granules Pharmaceuticals Inc has agreed to acquire 12.5 per cent stake in USpharma.
USpharma is a development-stage US-based pharma company specialising in research, development and manufacture of high entry-barrier generic pharmaceuticals, including controlled-release, controlled substance and patent-challenge products.
According to the company, this investment will allow Granules to participate in product selection and have right of first refusal to market the select products which are under development by USpharma. USpharma has two facilities in the US and a centre in Mumbai. Krishna Prasad Chigurupati, chairman, Granules India said, “This agreement with USpharma complements our internal product development programme, and expands our product portfolio by leveraging external product development capabilities.”